Monthly Report

Kitahama Capital Partners to develop up to 5.2MW of solar in Tohoku and Hokkaido

November 13, 2024
Solar
Kitahama Capital Partners plans to sell the projects when they are ready for EPC.

Kitahama Capital Partners will develop six projects in the Hokkaido and Tohoku TSO areas totaling up to 5.2MW with the intention of selling them once they are ready to enter the engineering, procurement, and construction (EPC) phase, the company announced last month.

The projects will be developed through Kitahama PV Development 1 LLC, a company incorporated on October 21, 2024. In addition to Kitahama Capital Partners, which owns 75%, Mirai Green Energy LLC and the new company’s representative Hidehiro Tsuji own 24% and 1%, respectively. Kitahama Capital Partners’ representative director Takeharu Maeda serves as the new company’s executive officer.

The six sites that will be developed include:

  • 30,000 sqm in Hachinohe City, Aomori Prefecture (1.5MW planned)
  • 26,000 sqm in Yokohama Town, Aomori Prefecture (1.5MW)
  • 7,000 sqm in Misawa City, Aomori Prefecture (500kW)
  • 8,000 sqm in Ishikari City, Hokkaido (650kW)
  • 9,000 sqm in Kashiwazaki City, Niigata Prefecture (650kW)
  • 4,000 sqm in Kashiwazaki City, Niigata Prefecture (403kW)

Kitahama Capital Partners expects to invest a total of 170 million yen in the six projects and sell them to an EPC company for 235 million yen in October 2025.

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