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


Photo: Pixabay


April 24, 2020






April 24, 2020





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

Energy transition development opportunity EPCG Montenegro

Energy transition is development opportunity for EPCG, entire Montenegro

03 June 2023 - The energy transition proved to be a development opportunity for Montenegro, headline speakers said at the EPCG Net event in Budva

serbia law on energy changes

Serbia is changing energy law: state commission for energy networks to be established

02 June 2023 - The Government of Serbia approved a bill with changes to the Law on Energy, largely to transpose the European Union's acquis

Serbia quota solar power auction

Serbia issues quota for upcoming solar power auction, adopts rules on balancing, premiums, feed-in tariffs

02 June 2023 - The government determined the quota for the premiums it intends to award for solar, defined balancing responsibility, premiums, feed-in tariffs rules

Abazovic Montenegro achieve energy independence 2030

Abazović: Montenegro to achieve energy independence in 2030

02 June 2023 - Outgoing Prime Minister Dritan Abazović said his pre-election coalition is pledging to make Montenegro energy independent in 2030