Gunkul Engineering to acquire 72 MW solar project in Japan from Duplex

Thai firm Gunkul Engineering has announced it has plans to acquire a 72 MW solar PV project in Tochigi province, Japan, from Kabushiki Kaisha Duplex Group (Duplex).

The Kentos project is located at Utsunomiya City and its total investment reaches JPY24.017 million (US$233 million). With a total installed capacity of 72.8 MW, the project has 66.78 MW of capacity under a power purchase agreement (PPA) with the utility Tokyo Electric Power Company (TEPCO). The capacity with a PPA will receive a feed-in-tariff (FiT) for 20 years at 36 per unit.

The company invested through Gunkul International (Mauritius), one of the company’s subsidiaries, at 100% shareholding, and has appointed Future Asset Management to support the operation.

Duplex, which is project developer, will obtain the required permits related to electricity production and selling to TEPCO, as well as the permits for construction. Commercial operation is expected in 2022.

Kentos project is the third solar power plant project by Gunkul Engineering in Japan.