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

Romania allows prosumers to install photovoltaic panels in several locations

Romania allows prosumers to install photovoltaic panels in several locations

01 December 2022 - The Government of Romania adopted an executive order to make it easier for prosumers to connect solar panels to the distribution grid

Greece joins European Single Intraday Coupling sidc

Greece joins European Single Intraday Coupling

01 December 2022 - Intraday markets of 25 European countries are now united and the integration has been completed.

PPC Renewables picks Terna biggest solar power plant in Greece

PPC Renewables picks Terna to build biggest solar power plant in Greece

01 December 2022 - The GEK Terna conglomerate gave the best offer for the construction of a 550 MW photovoltaic plant in northern Greece

Finnish startup Cactos retrofitting old Tesla batteries other energy storage uses

Finnish startup retrofitting old Tesla batteries for other energy storage uses

01 December 2022 - Cactos from Finland gives alternative purposes to second-life electric vehicle batteries, with the help of its cloud-based software