Actis-backed Nozomi Energy acquired 10 operational solar power plants totaling about 90MWAC/120MWDC from Banpu affiliates, it announced on June 18, 2025.
According to the statement, the projects range in size from 1MW to about 30MW and are located in Hokkaido, Tohoku, Kansai, and Kyushu. All are operating under the feed-in-tariff (FIT) scheme, with an “average remaining life of almost 15 years.”
While Nozomi Energy did not disclose individual project details, Banpu Japan’s website indicates the larger projects included in the transaction could have included:
- 20.5MWAC/26.2MWDC in Aizuwakamatsu City, Fukushima Prefecture (FIT certification in FY2013 at 36 yen per kWh, expiry in November 2038)
- 20MWAC/25.4MWDC in Kawanishi Town, Yamagata Prefecture (FIT certification in FY2013 at 36 yen per kWh, expiry in October 2040)
- 18.9MWAC/28.8MWDC in Osato Town, Miyagi Prefecture (FIT certification in FY2013 at 36 yen per kWh, expiry in November 2039)
- 17MWAC/22MWDC in Mukawa Town, Hokkaido (FIT certification in FY2012 at 40 yen per kWh, expiry in July 2038)
The deal follows Nozomi Energy’s acquisition of 12 operational FIT power plants totaling over 300MWDC announced in December 2024, believed to have come from PAG Renewables. It brings the company’s operational capacity to about 500MW within a 900MW portfolio, including development-stage projects.
“While this transaction illustrates Nozomi Energy’s continued momentum through inorganic growth, the platform also remains focused on the development of its pipeline of greenfield onshore wind and solar as well as BESS projects,” said the statement. The company aims to expand its portfolio to 1.1GW by 2027.
