Thailand-based GUNKUL has announced that it will invest in its fourth solar farms in Iwakuni, Yamaguchi Prefecture (Japan).
The project has a contract capacity of 75 MW and installed capacity of 90 MW. Once completed the project will have a power purchase agreement (PPA) with Chugoku Electric Power. The project will hold a 20 year with Feedin Tariff (FiT) rate at JPY 32.00 per KWh (US$0.28 per KWh).
The total investment cost of the solar project is about JPY31.3 billion (US$276 million). The project is scheduled to start operations in 2022. The company has appointed I V Global Securities PCL as an independent financial advisor on the project transaction.
Gunkul has announced its plans of securing a loan from a financial institution and combine it with working capital and cash flow to finance the project. Iwakumi project is the forth solar power plant project by the company in Japan.