KKR's X-Elio closes financing for 66 MW solar in Japan

X-Elio, a spanish solar developer and operator owned by KKR & Co LP, has achieved financial close for two projects with a combined capacity of 66 MW in Miyagi, Japan.

Financing from Sumitomo Mitsui Trust Bank for the 28 MW Shiroishi photovoltaic park and the 38 MW Tsurusu solar power plant has been secured. X-Elio's Japanese portfolio reached nearly 190 MW with these two projects.

Construction works will be carried out by NEC Networks & System Integration Corp (Nesic) with expected power generation by second half of 2018.

With three projects under construction to be commissioned between end-2017 and mid-2018, the company already has two operational solar farms in Japan.

The solar photovoltaic (PV) arm of Spain’s Gestamp Renewables, Gestamp Asetym Solar SL, was acquired by KKR back in early 2016 after its announcement in July 2015 and renamed to X-Elio.