Renewables

Tokyo-based Enechange, Looop to run Turkish 13 MW solar park for ten years

Enechange-Loop-Turkey-solar-park

Photo: Pixabay

Published

April 24, 2020

Country

Comments

0

Share

Published:

April 24, 2020

Country:

Comments:

0

Share

A solar power plant in Denizli province, Turkey will be the first investment by the newly established Japan Energy Fund. The overseas-specialized decarbonized energy fund is founded by Tokyo-based companies Enechange Ltd. and Looop Inc.

Joint rights to operate the 13 MW photovoltaic system, located about 300 kilometers south of Istanbul, will be purchased for USD 10 million, Enechange said.

The funds have been secured via the first financial facility in the project – Japan Energy Capital 1 LP.  The founders revealed the ambition to boost assets under management to USD 100 million.

Annual power generation of the power plant is 22.5 GWh

Annual power generation of the power plant is 22.5 GWh, which is equivalent to electricity needs of 8,000 Turkish households.

The fund targets opportunities in Turkey, Jordan and Western countries

The solar power plant is in the feed-in tariff (FIT) system in Turkey, which has a concept similar to Japan’s scheme.

The photovoltaic unit is expected to generate long-term stable income, Enechange said and added it would sell electricity to distribution companies in the region at a fixed price of USD 13.3 cents per kWh for a decade.

The fund aims to invest USD 1 billion

The fund was established to invest in renewable energy businesses in Turkey and Jordan and energy technology ventures in Western countries.

It is jointly managed by Enechange and Looop while Hokuriku Electric Power and Daiwa Energy and Infrastructure have agreed to participate.

The fund seeks domestic and foreign investors interested in investing in decarbonization, Enechange underscored and noted the aim is to get the portfolio up to USD 1 billion.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Croatian Chamber of Economy lex specialis for renewables position paper

Croatian Chamber of Economy asks for lex specialis for renewable energy sector

28 March 2024 - The Association for Renewable Energy Sources produced a position paper identifying obstacles and possible solutions

romania delgaz hydrogen 20HyGrid

Romania successfully tests blending hydrogen in natural gas distribution grid, households

28 March 2024 - E.ON Romania declared success in its test of blending hydrogen into the gas network and using the mixture in households.

IRENA-Global-solar-power-capacity-surpasses-hydropower-in-2023

IRENA: Global solar power capacity surpasses hydropower in 2023

28 March 2024 - The world's renewable electricity capacity additions in 2023 hit a record 473 GW, dominated by China. Solar power became the largest segment in total.

aleksander mervar eles krsko solar slovenija

Mervar: Electricity from Krško 2 nuclear project won’t be cheaper then EUR 125 per MWh

27 March 2024 - CEO of Slovenia's TSO ELES Aleksander Mervar said gas power plants need to be built to prevent the need for large electricity imports