Solar plant completed in disaster-affected area of Miyagi

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Japan Asia Group Ltd has built a 26.3MW solar power plant in Natori City, Miyagi Prefecture.

The power producer of the mega (large-scale) solar power plant, “Natori Solar Way,” is Natori Solar Way LLC. The LLC was jointly invested in by JAG Energy Co Ltd and Kokusai Kogyo Co Ltd, which are affiliated with Japan Asia Group.

The plant was built on the 29-hectare site of the former Miyagi Prefecture Agricultural High School, which was moved to a different district after being damaged by a tsunami caused by the Great East Japan Earthquake on March 11, 2011.

The amount of electricity expected to be generated at the plant is equivalent to the power consumption of 7,700 households. All the electricity generated will be sold to Tohoku-Electric Power Co Inc.

The solar panel and PV inverter employed for the plant are products of Toshiba Energy Systems & Solutions Corp and Toshiba Mitsubishi-Electric Industrial Systems Corp (TMEIC), respectively. Toko Electrical Construction Co Ltd provides EPC (engineering, procurement and construction) services while JAG Energy Asset Management Co Ltd is responsible for O&M (operation and maintenance) after the start of operation.

A fund (managed by JAG Investment Management Co Ltd) of the Public-private Renewable Energy Fund Project, which the Tokyo metropolitan government pushes forward with, was used to invest in and give a loan to the solar power plant. The project is aimed at promoting the introduction of renewable energy by building solar power plants. The investment and loan are also expected to contribute to the reconstruction and vitalization of the disaster-affected area.

Also, for the construction of the plant, Hitachi Capital Trust Corp issued rated valuable papers and borrowed money based on trust (project bond), giving a non-recourse loan of ¥7.5 billion in total.

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