Monthly Report

Shizen Energy secures 1B yen project finance from Daishi Hokuetsu Bank for 4 Bourbon PPA solar plants

January 31, 2025
Shizen Energy Solar Power Plant
Three of the four power plants are already operational. (Image: Shizen Energy)

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.

If you found the above helpful, join our free weekly newsletter to get a summary of the latest news from the Japanese power market straight in your inbox.

…or create a FREE Japan Energy Hub account to not only receive the newsletter but also access to selected parts of our data modules.

In other news...

Monthly Report - The Japanese Power Industry Executive

Submit the form below to receive a sample issue of The Japan Power Industry Executive.