Sonnedix closes financing on first project in Japan

26 August 2014

Tokyo, August 21, 2014

Sonnedix Group (Sonnedix) announces the closing of financing for the construction and operation of two solar photovoltaic (PV) power stations totaling 4.5 megawatts (MW) of generating capacity near Hokuto City, in the northwestern region of Yamanashi Prefecture, Japan. The financing was provided by Hitachi Capital Corporation under a lease structure and the construction and future operation will be performed by Hitachi Systems.

The projects benefit from a Feed-in-Tariff (FIT) incentive program introduced two years ago to expand the country’s generation capacity from renewable power sources such as solar, wind and biomass.

“We are delighted with this significant first milestone reached by our local management partner, Nippon Solar Services, and have been fortunate to have been working with the professional and collaborative teams at Hitachi Capital and Hitachi Systems”, said Sonnedix CEO, Mr. Andreas Mustad.

Sonnedix in addition will contribute to have a small solar system of 31.2 kW built for the community center of Hokuto City, another strong supporter of the project and its implementation. Sonnedix is committed to its global Corporate Social Responsibility Initiative which invests in education, quality of life and good neighbor programs tailored to each plant it develops.

About Sonnedix: Sonnedix is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally. Sonnedix currently owns over 100 megawatts (MW) photovoltaic (PV) power plants in operation or construction in Italy, France, Spain, US/ Puerto Rico, Thailand, Chile, South Africa and Japan and several hundred MW in development pipeline. For more information about Sonnedix, please visit www.sonnnedix.com

About Hitachi Capital: Hitachi Capital Corporation was founded in 1957 as a subsidiary of Hitachi Ltd., and has become one of the leading financial service companies in Japan. Through their group companies located in the United Kingdom, Poland, United States of America,Canada, Singapore, Thailand, Malaysia, Indonesia and China, Hitachi Capital has established a presence in the global market place to better serve our customers and our Hitachi group of companies worldwide.

I’d put my money on the Sun and Solar Energy, what a source of Power! I hope we don’t have to wait until oil and coal run out, before we tackle that.

Thomas Edison in conversation with Henry Ford and Harvey Firestone, 1931