Mitsui & Co. Plant Systems Reaches an Agreement on Asset Management with Rich Solar Energy Godo Kaisha for Nishi Sendai Golf Club Mega-solar Power Generation Project
Mitsui & Co. Plant Systems, Ltd. (“MPS”, Head Office: Minato-ku, Tokyo, President and CEO: Tatsuo Kita) entered into an asset management agreement with Rich Solar Energy Godo Kaisha (“RSE”) for Nishi Sendai Golf Club Mega-solar Power Generation Project (“the Project”), for which MPS had been entrusted by RSE with the development of the Nishi-Sendai Golf Club Mega-solar Plant.
RSE, an owner of the Project, is a special purpose vehicle whose shareholders include Siam Steel International Plc., which is Thailand’s leading manufacturer of steel products and has been diversifying its business into various renewable energy fields, including solar farms and biomass power generation. The Project is to build and operate an approximately 18-MW solar power plant in part of the Nishi Sendai Golf Club site (a 9-hole golf course that is no longer used) in Aoba-ku, Sendai City, and commercial operation is planned to commence in November 2018. MPS concluded an agreement with RSE for the undertaking of the development of the power plant and took the initiative in concluding a project financing agreement between RSE and the Bank of Tokyo Mitsubishi UFJ, Ltd. and Nippon Life Insurance Company. In line with the said project finance agreement, MPS entered into the aforementioned asset management agreement with RSE and will be entrusted with asset management of the Project.
MPS has been entrusted by PV funds and other entities with asset management for solar power generation business at 31 sites, with a total capacity of 110 MW. MPS offers various services, including formulation and management of a maintenance plan, power generation data analysis for detecting performance degradation, and establishment of an O&M structure optimized for each site, including the appointment of a dedicated operator. Based on its expertise in renewable energy business, MPS will engage in the development and asset management of solar power plants, as well as wind power plants, biomass power plants, and hydro power plants, while aiming not only for maximization of the profit of project owners but also for spreading the use of clean energy in harmony with society.
Overview of the Nishi-Sendai Golf Club Mega-solar Power Generation Project
| Location | Aoba-ku, Sendai City, Miyagi Prefecture |
|---|---|
| Capacity | Approximately 18 MW-dc (PV module capacity) |
| Total Project Cost | Approximately JPY 7 billion |
| Commercial Operation Period | 20 years from November 2018 (planned) |