BCPG Japan close financing for Japanese solar project

BCPG Japan Corp, affiliated with Thailand-based Bangchak Petroleum PLC, has reached financial close for a 14 MW large-scale photovoltaic solar plant located in Nagi-cho, Okayama Prefecture, Japan.

Tokyo branch of Netherlands-based ING Bank has provided a financing package of JPY3.86 million (US$37.3 million) which accounts the 85% of the total investment for the project.

The 14 MW solar plant will be set on a 190,000 m2 land in Nagi-cho, which will be the largest solar power plant in the Chugoku region of Japan. The plant is scheduled to be commissioned by March 2017 and the energy produced will be sold to The Chugoku Electric Power Co Inc. through a power purchase agreement (PPA).

IHI Plant Construction Co Ltd is in charge of the EPC (engineering, procurement and construction) of the plant while Chudenko Corp is responsible for the development of a private power transmission line for transmitting power to a power grid.

Trina Solar Ltd and Toshiba Mitsubishi-Electric Industrial Systems Corp (TMEIC) will provide respectively the solar panel and PV inverter employed for the plant whilst BCPG Japan will be responsible for operation and maintenance (O&M).