On November 25, 2024, Renewable Japan issued 500 million yen in three-year corporate bonds through private placement with The Kumamoto Bank.
The issuance coincides with the maturity of 500 million yen in three-year corporate bonds that Renewable Japan sold to Kumamoto Bank on the same date in 2021. Renewable Japan plans to use the newly raised funds as working capital. “The funds raised this time will be allocated to our domestic solar power plant business,” said Renewable Japan’s statement.
Renewable Japan is a major renewable developer with nearly 300MW of solar power plants under the feed-in-tariff (FIT) scheme and an approximately 30MW domestic non-FIT portfolio in addition to its wind and hydro projects and overseas projects. With over 2GW worth of contracts, the company is also a major operation and maintenance (O&M) services provider.
While Renewable Japan is currently publicly traded, earlier this month, Tokyu Land revealed its plan to fully acquire the company, take it private, and sell a portion back to its current president in a management buyout.
