News

2023.12.26

Pacifico Energy Secures Development Loan Financing for Shunan City Nagaho Solar Power Project with The Bank of Yokohama

Tokyo, Japan – Pacifico Energy K.K. (headquartered in Minato-ku, Tokyo; Hiroki Matsuo, President and CEO) is pleased to announce the successful execution of a development loan financing agreement with The Bank of Yokohama, Ltd. This agreement will facilitate the development of the Shunan City Nagaho Solar Power Project in Yamaguchi Prefecture.

Key Highlights:

1. Strategic Loan Agreement: Pacifico Energy has entered into a significant financing partnership with The Bank of Yokohama to advance the Shunan City Nagaho Solar Power Project.
2. Project Overview: The Shunan City Nagaho Solar Power Project, a large-scale solar power plant, will utilize the Feed-in Premium (FIP) system. This project is a testament to our commitment to sustainable energy solutions and aligns with global decarbonization objectives.
3. Corporate PPA Initiative: This project represents our first initiative under the corporate Power Purchase Agreement (PPA) framework, reflecting the increasing demand for renewable energy among corporations striving to achieve carbon neutrality by 2030.
4. Enhanced Development and Financing: The development of 100MW-class solar power plants is subject to the Environmental Impact Assessment Law, which extends the development period. By leveraging the Devex loan, we aim to enhance capital efficiency and expedite the development process, thereby contributing to the reduction of greenhouse gas emissions and the revitalization of the local economy.

Executive Insights:

Hisashi Nagamori, Chief Investment Officer (CIO) and Managing Director, Head of Investment Division, stated: “We are delighted to have secured our first Devex loan from The Bank of Yokohama. This financing will enable us to accelerate the development of large-scale solar power projects and diversify our funding sources. We remain committed to pioneering renewable energy solutions and achieving carbon neutrality through innovative financing strategies.”

Contact information in Japan
Public Relations Department

Phone: 03-4540-7830
Email: info@pacificoenergy.jp
Website: https://www.pacificoenergy.jp/contact-us/