Grasshopper Solar, a Canada-based solar energy company, has made a USD80 million investment in Setouchi Koken’s Iizuka Solar Plant located in Fukuoka, Japan.
This 21.6MW ground mount project will utilise 65,455 solar panels, generate 26,136 MWh of clean energy and offset 19,451 tons of carbon emissions per annum.
The Iizuka Power Plant will be developed by Setouchi and its Japanese partners with construction commencing in Q4 2018, and is expected to achieve commercial operation by Q3 of 2020. This project, once completed, will participate in the country’s Feed-in Tariff program with a 20-year JPY36/kWh contract awarded by METI (Ministry of Economy, Trade and Industry).
“We are pleased to have made this milestone investment in Japan. We expect strong growth of our asset base as we continue through with our expansion plans into this market. We chose Japan given the country’s strong commitment to renewable energy reflected in public opinion and the regulatory and policy framework,” says Azeem M Qureshi, CEO, Grasshopper Solar.
“We will continue to grow and execute on our existing Japanese pipeline of USD1.2 billion of solar projects. As our asset base continues to scale, our team continues to originate creative solutions, enabling projects to provide maximum value for all stakeholders,” says Jonathan Persaud, Chief Development Officer, Grasshopper Solar.