
On June 28, 2024, The Bank of Fukuoka agreed to provide a 5.3 billion yen green loan agreement to finance the construction of Vena Energy’s Maibara Solar Power Plant, the bank announced earlier this month. No further details about the terms of the loan were disclosed.
The 31.65MWDC/23MWAC Maibara Solar Power Plant is currently under construction in Maibara City, Shiga Prefecture, in the Kansai TSO area. Once operational, Vena Energy will use it to supply power to Mitsubishi Clean Energy through a corporate PPA first disclosed in mid-May 2024.
The Bank of Fukuoka was advised by Baker & McKenzie when arranging the transaction. “The transaction was led by Baker McKenzie Tokyo partner Kosuke Suzuki, supported by counsel Taketo Sekiguchi , associates Shun Fukasawa and Kazuki Hisada , and London partner Luke Lightfoot and associate Teresa Ryan,” the law firm said in a statement.