Vena Energy bags $63.4m green loan for 26MW solar project in Japan

It is co-financed by the Sumitomo Mitsui Trust Bank.

Renewable energy firm Vena Energy secured a green loan of around $63.4m (JPY8.54b) through a co-financing scheme led by Sumitomo Mitsui Trust Bank for the construction of a 26-megawatts solar project in Japan.

In a statement, Vena Energy said the Kisarazu Shimogori Solar Project, its first project in Chiba Prefecture is undergoing construction and is scheduled for completion in the fourth quarter of 2022.

“This project is another step in our mission to contribute to Japan’s energy transition plan and energy independence through clean and renewable power,” said Juan Mas Valor, head of Vena Energy Japan. 

“We are grateful to our host communities, and we will continue to work closely together throughout the construction and operation of the project, safeguarding the sustainability of the local environment and biodiversity for future generations,” he added.

READ MORE: Vena Energy forms consortium to develop offshore wind project

The solar project is will be able to supply clean energy to up to 29,220 households annually once completed.

It can also save around 24 million litres of water and reduce greenhouse gas emissions by around 16,980 tonnes, compared to thermal generation.

$1 =JPY134.80