Monthly Report

Clean Energy Connect’s operational non-FIT solar portfolio grows to 2,000 assets totaling 175MWDC+

February 5, 2025
Solar
Clean Energy Connects is specializing in developing low-voltage solar power plants monetized through PPAs.

Clean Energy Connect’s operational solar power plant portfolio of assets not subsidized by the feed-in-tariff (FIT) scheme and relying on PPAs instead grew to 2,000 assets with a combined capacity of over 175MWDC, the company announced on February 4, 2025.

According to the low-voltage solar developer’s statement, the portfolio is expected to generate approximately 188GWh per year. It consists of power plants with an average capacity of approximately 90kW to 100kW each spread across 24 prefectures in Honshu, spanning the Tohoku, Tokyo, Chubu, Kansai, and Chugoku TSO areas.

Based on the company’s previous announcements, its portfolio expanded approximately six- to sevenfold from 277 operational power plants generating an estimated 27GWh per year in February 2023 to its current size.

The company has been financing the construction of its power plants through, among other means, a 10.9 billion yen facility arranged by Goldman Sachs, which it announced in September 2024. Later that month, the company also announced it secured a 1.2 billion yen loan from Yokohama Bank, bringing the total it raised to 53 billion yen.

Among the more than 15 PPAs disclosed by Clean Energy Connect and listed in Japan Energy Hub’s PPA database, 70MWDC-scale deals with NTT Anode Energy, Amazon, and Google signed in 2022, 2023, and 2024, respectively, stand out the most.

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