The project, funded through a co-financing scheme led by Sumitomo Mitsui Trust Bank in Japan, will be located at the Nihonmatsu Kaminagaori Solar Project in Fukushima Prefecture in Japan.
“The Nihonmatsu Kaminagaori Solar Project will be our fourth renewable energy project in Fukushima Prefecture, and we are grateful for the continued support from Sumitomo Mitsui Trust Bank which enables us to continue to contribute to Japan’s energy transition,” Juan Mas Valor, Head of Vena Energy Japan, said.
It is scheduled to start commercial operations in 2023. The new solar project is expected to supply clean energy to more than 4,000 Japanese households annually.
This is also equivalent to reducing 11,445 tonnes of greenhouse gas emissions and some 16 million litres of water conserved annually.
“Supporting the provision of clean energy through green loans and being considerate of the natural environment and local communities is a meaningful initiative that is in line with this vision,” Keiichi Hamano, Managing Executive Officer of Sumitomo Mitsui Trust Bank, said.