Trina Solar launches mega solar power project in Ishinomaki, Miyagi Prefecture, Japan
We provided legal advice on a mega solar project being developed by Trina Solar Ltd., a Chinese photovoltaic manufacturer, in Ishinomaki City, Miyagi Prefecture, Japan. Trina Solar is a world-leading solar modules manufacturer and solar power plant development, construction, solution Service Company and is working together with GE Energy Financial Services to invest in the 14-megawatt power plant.
Construction of the project is planned for the end of June and the facility is scheduled to begin generating electricity by June 2017. The clean energy generated by the project will be sold to Tohoku Electric Power for a fixed rate of 36 yen/kWh for 20 years. The plant is expected to supply the electrical needs of more than 4,400 households once completed.
The Firm's team who advised on this project was led by Naoaki Eguchi, Head of the Tokyo office's Banking and Finance Practice Group, with the strong support of partner Yasuhisa Takatori, associates Pierre Chiasson and Chiaki Kawai.
Commenting on the deal, Eguchi said, "Photovoltaic generation has received considerable attention as a renewable energy solution in recent years. We are delighted to have been able to provide our client with legal support on such a meaningful solar power project. As more companies are expected to enter into the renewable energy sector, we are dedicated to continue to provide valuable advice for our clients."