Kitahama Capital Partners plans to acquire and develop eight solar projects totaling 21.5MWDC through its special purpose company (SPC) Kitahama PV Kaihatsu 2 LLC and sell them to an undisclosed power producer, the company announced on September 16, 2025.
According to the statement, the projects in Hokkaido’s Saru District and other areas, will cover approximately 27ha. The company said they will not require major grading and, in most cases, forest development permits.
Kitahama Capital Partners expects to invest 562 million yen in the acquisitions and sell the projects for 860 million yen. It plans to complete engineering and submit grid connection applications by the end of January 2026, sign purchase agreements for the sites in March, and obtain permits in June. The company eyes selling the assets in November 2026.
The SPC is 80% owned by Kitahama Capital Partners, with the remaining 20% held by the company’s representative Hidehiro Tsuji. The development is being financed using funds raised through stock warrants issued by the TSE Standard-listed parent in May 2024.
Kitahama PV Kaihatsu 2 follows Kitahama PV Kaihatsu 1 LLC established in 2024 to develop up to 5.2MW of solar in Hokkaido and Tohoku. The parent company also disclosed acquisitions of low-voltage projects from Trust Corporation, a Hiroshima-based developer and EPC in which Kitahama Capital Partners took a 40% stake.
