Monthly Report

Mizuho Lease secures loan from Taiyo Life Insurance to finance 199MW solar portfolio

December 4, 2024
Solar
MIRAI POWER 1 has stakes in six solar projects.

On November 29, Mizuho Lease and Taiyo Life Insurance signed a 10-year loan agreement to fund solar power plant projects through the former’s special purpose company MIRAI POWER 1 LLC.

The loan was signed based on Taiyo Life Insurance’s sustainable finance framework. The amount was not disclosed.

Mizuho Lease first announced it invested in solar power plants through MIRAI POWER 1 in March 2023, starting with 50% stakes in a 71MW project in Aomori, 32MW project in Ibaraki, and 25MW project in Mie. In September of that year, it disclosed the acquisition of 100% stakes in two projects, a 23MW one in Mie and a 13MW one in Kumamoto. The SPC announced its latest investment, a 100% stake in a 35MW project in Mie Prefecture, in March 2024.

With that, MIRAI POWER 1’s current portfolio includes solar projects totaling 199MW or, when adjusted for the company’s ownership stake, 135MW.

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