Monthly Report

Vena Energy commissions 23MWAC Maibara Solar Power Plant

January 22, 2025
Maibara Solar Power Plant
The Maibara Solar Power Plant is monetized using a combination of FIP and corporate PPA. (Image: Vena Energy)

Vena Energy’s 23MWAC/31.65MWDC Maibara Solar Power Plant in Maibara City, Shiga Prefecture, started commercial operation, the company announced on January 21, 2025.

According to the statement, the power plant in the Kansai TSO area was “built on the site of a former industrial site that had ceased operations.” The generated power will be sold to Mitsubishi Corporation Clean Energy through a corporate PPA signed in February 2024.

The Maibara Solar Power Plant was awarded a 6 yen/kWh feed-in-premium (FIP) in Japan’s 19th solar auction, which was held in FY2023, through Vena Energy-associated special purpose company NRE-30 Investment. Construction of the power plant was financed using a 5.3 billion yen green loan from The Bank of Fukuoka.

Based on Vena Energy’s website, the company’s operational portfolio in Japan now includes 31 solar power plants totaling approximately 700MWDC alongside two operational wind projects and multiple projects under development. Maibara Solar Power Plant’s commissioning follows the October 2024 commissioning of the 53MWDC Kasama Solar Power Plant in Ibaraki Prefecture.

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