Sumitomo Mitsui Finance and Leasing’s subsidiary SMFL Mirai Partners and communication infrastructure construction company MIRAIT One signed a partnership agreement to jointly develop 70MW of solar power plants within five years of FY2025, the companies announced on March 11, 2025.
Under the partnership, MIRAIT One will be in charge of project development and construction. SMFL Mirai Partners will handle the power plants’ operations and secure PPA offtakers by leveraging the SMFL Group’s existing customer base. The companies are developing projects ahead of securing customers to be able to supply power in a short period of time when they find interested companies.
According to end of January 2025 METI data, MIRAIT One had one FIT-certified solar power plant. The 249.9kWAC/455kWDC asset in Fujinomiya City, Shizuoka Prefecture, was its first step into the renewable energy industry. When announcing its construction in September 2022, the company said it is aiming to generate 10 billion yen in power plant construction and sales, as well as PPA, revenues in FY2026.
The Japan Energy Hub PPA database shows SMFL Mirai Partners is already active in the PPA industry. Since early 2022, it has signed multiple physical and virtual deals alongside a partnership with Yanmar Corporation to jointly develop 150MW and supply the generated non-fossil certificates to the machinery manufacturer.
