GEFS, Virginia Solar Group Start Operations at Japan Solar Power Plant

Kumenan Solar Plant in Japan Begins Operations

GE Energy Financial Services (NYSE: GE) and Virginia Solar Group began operations at the jointly-owned Pacifico Energy Kumenan Mega Solar Project in Japan.

Tokyo Engineering Corp. carried out the engineering, procurement and construction of the 32-MW project that was completed one month ahead of schedule. The project was specially designed and built on mountainous terrain to leverage accessible slopes. Kumenan Solar Project sells its power to Chugoku Electric through a 20-year power purchase agreement at a fixed tariff. Asahi Dengyo Corp. will provide ongoing operations and maintenance services for the solar plant.

Kumenan Solar Project is the first in Japan to introduce the global standard of non-recourse project financing with a ¥11 billion ($101.1 million) loan from The Bank of Tokyo-Mitsubishi UFJ and The Chugoku Bank Ltd. It was also GEFS’ first investment in Japan.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...