Mizuho Leasing acquired 100% economic interest in the 8.5MWAC/12MWDC Kuji Samuraihama Solar Power Plant in Kuji City, Iwate Prefecture, through its special purpose company (SPC) MIRAI POWER No. 1 LLC, the company announced on March 28, 2025.
The project, owned through Sojitz Mirai Power-associated Mirai Soden Samuraihama LLC, was commissioned in November 2019 and is operating under a 20-year feed-in-tariff (FIT) contract valid until October 2039. When the asset was FIT-certified in FY2013, the tariff offered to 10kW and larger solar projects was 36 yen per kWh.
Prior to the latest acquisition, the SPC acquired interests in six other operational solar power plants, all owned by Sojitz Mirai Power-associated entities (Mirai Soden [Power Plant] LLC).
Like the latest addition, the previously acquired power plants were FIT-certified in the early days of the program, between FY2012 and FY2014, when the rates offered for 10kW and larger solar power plants were between 40 and 32 yen per kWh.
The first deal, announced at the end of March 2023, involved the acquisition of a 50% economic interest in three projects: the 51MWAC/71MWDC Kamikita Rokkasho Solar Power Plant in Rokkasho Village, Aomori Prefecture, the 25MWAC/32.1MWDC Takahagi Yasuragawa Solar Power Plant in Takahagi City, Ibaraki Prefecture, and the 19MWAC/25MWDC Toba Solar Power Plant in Toba City, Mie Prefecture.
In September of the same year, Mizuho Lease disclosed the acquisition of a 100% economic interest in two additional projects: the 18MWAC/23.4MWDC Tsuhakusan Solar Power Plant in Tsu City, Mie Prefecture, and the 9MWAC/12.8MWDC Kuma Nishikicho Solar Power Plant in Nishiki Town, Kumamoto Prefecture.
Most recently prior to the latest deal, it took full economic interest in the 26MWAC/35.2MWDC Matsusaka Solar Power Plant in Matsusaka City, Mie Prefecture.
Mizuho Leasing’s acquisition is among a series of high-FIT solar asset transactions disclosed at the end of Japan’s fiscal year, including JDC Corporation’s sale of a portion of its interest in the 40MWAC/50.4MWDC Matsushima Donguri Solar Power Plant to SMFL Mirai Partners and Energy Products’ sale of its 100% economic interest in the 8.5MWAC/10.1MWDC Hosoya Solar Power Plant to Environmentally Friendly Holdings.
