Shizen Energy secured an approximately 1 billion yen loan from the Niigata-based Daishi Hokuetsu Bank to finance four solar power plants in Niigata and Yamagata prefectures related to an off-site PPA it signed with Niigata-based confectionery producer Bourbon.
According to the bank’s statement released on January 31, 2025, the loan was executed on November 15, 2024. “Our bank has devised a financing scheme for ‘local production and consumption of electricity’ projects based on the know-how we have cultivated through project finance for renewable power generators; this led to the structuring of this loan,” said the bank in a statement.
The four power plants, all of which are owned by the Shizen Energy-affiliated Shizen Energy SEBE1 special purpose company and FIP-certified, have a combined capacity of 4.6MWAC/6.7MWDC. Three of them were commissioned in 2024 with the last one set to start commercial operation this October:
- Niigata Prefecture
- Kashiwazaki Matsunami Solar Power Plant (1,999kWAC/3,301kWDC; April 2024 COD)
- Makibuchi Solar Power Plant (700kWAC/921kWDC; October 2025 expected COD)
- Fukazawacho Solar Power Plant (1,500kWAC/1,919kWDC; October 2024 COD)
- Yamagata Prefecture
- Yamagata Shinjo Solar Power Plant (400kWAC/572kWDC; October 2024 COD)
According to an earlier statement from Shizen Energy, the four projects were developed jointly with Bison Energy, in which the company acquired a minority stake in 2022.
