
On July 5, 2024, the Denmark-based solar and BESS developer and owner Obton announced a joint venture with GSSG Solar, a Denver-based renewable energy investment firm. The joint venture will acquire 117MW worth of solar projects in Japan.
According to Obton, the 117MW will be split between eight operational projects totaling 104MW and one 13MW project currently under development spread across seven prefectures. The existing projects were commissioned between 2017 and 2022 and are on Japan’s feed-in-tariff (FIT) scheme. The FIT scheme pays a fixed amount of yen per kWh to project owners for a fixed period, 20 years in the case of utility-scale solar projects.
This is not the first time for Obton and GSSG Solar to work together in Japan. In the past, Obton acquired GSSG Solar’s largest solar asset, an 82MW solar power plant in Fukushima Prefecture.
In 2021, Japan became the first Asian market in which Obton made an investment into solar power, when it acquired the 31MW Shirakawa Solar Farm with financing from EKF (Denmark’s Export Credit Agency).