TOKYO--(BUSINESS WIRE)--Pacifico Energy K.K. (Head Office: Minato, Tokyo) is pleased to announce the commencement of construction of a 102.144 MW(DC) solar power generation plant in Ako, Hyogo Prefecture.
The Ako plant will be constructed on the site of a golf course in Ako-gun, Hyogo Prefecture, Japan. Operations are expected to start in Spring of 2021. Once commissioned, the plant will generate approximately 125 million kilowatt hours of electricity annually, contributing to an annual reduction of approximately 5 tons of CO2 emissions. Kansai Electric Power Co., Inc. will purchase all electricity generated by the plant for twenty (20) years at 24 yen per kilowatt hour, pursuant to the Act on Special Measures Concerning Procurement of Electricity from Renewable Energy Sources by Electric Utilities.
MUFG Bank, Ltd. arranged the lending syndicate, Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor to Pacifico Energy Ako G.K. and Baker McKenzie acted as legal counsel to Pacifico Energy Ako G.K. on this transaction.
Pacifico Energy has now commenced construction on eleven (11) solar power plants throughout Japan (including the Ako plant) totaling 930 MW(DC), four (4) of which (totaling 227 MW(DC)) have been completed and are now in commercial operation.
Leveraging accumulated know-how and experience gained through developing, constructing, and operating utility scale solar power plants to date, the company will continue its excellent track record and build this solar power plant to promote safe, stable and environmentally friendly domestic clean power in cooperation with regional communities and the environment.