Environmentally Friendly Holdings agreed to acquire 100% economic interest in the 8.5MWAC/10.1MWDC Hosoya Solar Power Plant in Misawa City, Aomori Prefecture, from Energy Products, the former announced on March 28, 2025.
The transaction is subject to approval from lenders to the project’s special purpose company EnePro Misawa. It follows a 10-year asset management contract signed between the two companies in November 2024. With one of Environmentally Friendly Holdings’ responsibilities under the agreement being coordination with financial institutions, the sale is likely to be approved.
According to the statement, the project is operating under a 20-year, 40 yen per kWh feed-in-tariff (FIT) contract secured during the subsidy scheme’s inaugural year. METI data shows the asset was certified in two parts with the FIT contract for the smaller, 1.5MWAC part expiring in April 2033 and for the larger, 7MWAC part in November 2034.
Environmentally Friendly Holdings did not disclose the cost of the acquisition. The company said it expects the project to generate, on average, about 300 million yen annually until its FIT contract expires. It projects the annual profit distributions from the special purpose company at approximately 30 to 50 million yen.
Currently, Environmentally Friendly Holdings is primarily involved in developing projects and providing operation and maintenance (O&M) services through its subsidiary EF Investment. It has multiple other energy-focused subsidiaries including EF Denki, a high- and extra high-voltage consumer-oriented power retailer.
“[Through this acquisition], we will be able to deepen our involvement in solar power generation beyond our current asset management business,” said the company. “In the future, we will focus on becoming able to fund, construct, sell, and manage power plants in-house, in order to build a renewable energy ecosystem,” it added while noting its vision of expanding into other renewable generation technologies and battery storage.
