G Three Holdings to Buy Stagnant Solar Projects in Japan

2016/10/06 06:49
Kenji Kaneko, Nikkei BP CleanTech Institute
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G Three Holdings Corp announced Aug 24, 2016, that it will start a business of purchasing stagnant solar projects in Japan.

It plans to purchase about 100MW of solar projects that have not yet started to construct facilities. It expects the cost for purchasing them to be ¥3 billion (approx US$29.3 million), which is covered by its own funds and loans from financial institutions.

Due to the revision of the feed-in tariff policy, facility certifications will be lost if a grid connection contract cannot be concluded with a power company by March 31, 2017.

On the other hand, there is a considerable number of solar projects that have obtained facility certification but have not started construction yet. And G Three Holdings targets at such projects.