Financing closes between X-ELIO, Societe Generale and ING for Sodegaura project in Japan – Revista Energía

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More than 53 million dollars were agreed to finance the project located in the Chiba prefecture, which will have an installed capacity of 16 MW and will supply more than 19 TWh of renewable and sustainable energy per year.

Madrid Spain.- X-ELIO has recently closed a financing agreement for its Sodegaura photovoltaic solar plant in Japan with Societe Generale and ING.

The financing obtained through this agreement will be used for the construction, operation and management of the 16 MW Sodegaura photovoltaic solar plant, located in the Japanese prefecture of Chiba, in Tokyo Bay.

The photovoltaic plant is expected to be connected to the grid in the fourth quarter of 2022 and will provide more than 19 TWh of renewable energy per year, offsetting more than 9,400 tons of CO2 emissions. Construction works are being carried out by Solarig Japan Services GK, which began last August and is progressing according to schedule.

David Diaz, CFO of X-ELIO said, “The closing of the 6.16 billion yen financing deal is another achievement of the company in Japan. This agreement crystallizes our ability to obtain competitive financing with the world’s leading financial institutions. The financing of Sodegaura is another example of the confidence of Societe Generale and ING in the development of X-ELIO’s portfolio of sustainable solutions”.

Toshiaki Isoi, Country Manager of X-ELIO in Japan confirmed: “Providing Japan with reliable, affordable and sustainable energy is our core business. We have great expectations in the market and we will continue to support the country in achieving its long-term renewables goals.”

Cedric Chatel, Managing Director – Energy + Group of Societe Generale added:X-ELIO is among the world’s most experienced developers of photovoltaic power generation assets. Japan is a critical market in the world of energy, which is leading the way for the energy transition in the Asia-Pacific region. This project supports the development of photovoltaic energy in Japan -one of the pillars of the country’s energy strategy- and allows X-ELIO to consolidate its successful track record in Japan. Therefore, we are delighted to support our client X-ELIO by playing a key role in the financing of their Sodegaura solar photovoltaic project.”

Adrian Lian, APAC Lead for Renewables & Power, Energy Sector Coverage at ING stated: “We are delighted to support X-ELIO’s Sodegaura solar PV project in Japan, leveraging ING’s network in Asia-Pacific to strengthen our global relationship with X-ELIO. In addition to our own net-zero climate ambitions, ING is proud to finance renewable energy projects in the markets where we operate, and is committed to supporting our clients on their energy transition journeys.”

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