Sharing Energy raised 2 billion yen (approximately $13.4 million) to fund the development of over 2,000 distributed low-voltage solar power plants, primarily on residential rooftops, the company announced on October 15, 2024.
The project financing, raised through “sustainable notes” and rated BBB by Nikkei’s Rating and Investment Information, brings Sharing Energy’s total raised funds to 15.44 billion yen. It was arranged by FinTech Global, with participating lenders including The Dai-ichi Life Insurance Company, The 77 Bank, and Mizuho Bank.
Sharing Energy will use the funds to grow its low-voltage PPA services including Share Denki, through which it installs solar panels on residential rooftops free of charge and charges a fixed per kWh fee to its customers in return.
Founded in January 2018, the company has so far received over 22,000 applications for Share Denki. When announcing the recent financing, Share Energy’s CEO Kazuyuki Uemura said that “Fundraising is an essential element in achieving our mission of ‘transforming the energy system by creating distributed power sources,’ and from that perspective, this marked a major turning point.”
