Mizuho Leasing acquired a 50% economic interest in the 14MWAC/17.6MWDC Ibusuki Yamakawa Solar Power Plant in Ibusuki City, Kagoshima Prefecture, through its special purpose company (SPC) MIRAI POWER No. 1 LLC, the company said on April 15, 2025.
Ibusuki Yamakawa Solar Power Plant is owned by Sojitz Mirai Power-associated Mirai Soden Ibusuki Yamakawa LLC. It was commissioned in March 2020 and is operating under a feed-in-tariff (FIT) contract. The asset was FIT-certified in FY2013 when the tariff for 10kW and larger solar projects was 36 yen per kWh.
The announcement comes just over two weeks after Mizuho Leasing’s March 2025 disclosure that the SPC acquired full economic interest in the 8.5MWAC/12MWDC Kuji Samuraihama Solar Power Plant in Kuji City, Iwate Prefecture.
Combined with MIRAI POWER No. 1’s first four acquisition rounds announced between March 2023 and March 2025, the SPC’s portfolio includes eight power plants totaling 170.5MWAC/228.1MWDC. Accounting for partial, 50% stakes it holds in four of the power plants, the SPC has 116MWAC/156.3MWDC worth of economic interest. As with the latest deal, all previous investments through the SPC involved Sojitz Mirai Power-affiliated assets.
In addition to the Kuji Samuraihama asset, the transaction also follows a number of other high-FIT asset transfers announced recently 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.
