Renova has completed a project finance arrangement totalling 22.3 billion yen to support a portfolio of non-feed-in-tariff (FIT) small-scale decentralised solar projects. The financing was executed through Renova’s subsidiary, First Solar Power G.K., and will cover around 1,300 sites with a combined capacity of 170 MWdc. The financing package has been structured with Sumitomo Mitsui Trust Bank as the arranger, alongside The Bank of Fukuoka as joint arranger, and Resona Bank as co-arranger. Sumitomo Mitsui Trust Panasonic Finance is participating as the mezzanine lender.
The proposed projects will be designed for long-term operation of up to 30 years. Moreover, they will consist of decentralised systems on unused land such as abandoned farmland. This is expected to reduce environmental impact and preserve local landscapes. Furthermore, it aligns with Japan’s Seventh Strategic Energy Plan, which classifies solar as a key power source for accelerating decarbonisation and targets a significant expansion in installed capacity by 2040.
In October 2025, Shizen Energy finalised renewable energy purchase agreements with Microsoft for four solar projects in Japan, taking the total contracted capacity to 100 MW. These 20-year agreements cover projects located across the Kyushu and Chugoku regions.
