Renewables: Tohoku Electric takes a 45% stake in Total's 52MW solar plant in Japan
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Paris, June 5, 2020 – Total Solar International, a wholly owned subsidiary of Total S.A., has entered into an agreement with Tohoku Electric Power Co., Inc, to sell a 45% stake out of its 90% interest in Miyagi Osato Solar Park, a 52 megawatt-peak (MWp) solar power plant located in Osato, Miyagi prefecture, Japan.
The project began construction in 2019 and is expected to start up in 2021. It will provide clean and reliable electricity to approximately 15,600 households.
“We are happy to welcome Tohoku Electric that will strengthen the project with its knowledge and expertise as the regional power grid operator. With this transaction, we are forging a new partnership paving the way for future collaborations in the renewable energy sector in Japan where Total is actively pursuing its development”, said Julien Pouget, Senior Vice-President Renewables at Total. “The entry of a strong regional partner into our Osato project during the construction phase is in line with our capital light renewables development business model.”
The plant is operated by Miyagi Osato Solar Park G.K., a special purpose company owned by Total Solar International (45%) alongside Tohoku Electric (45%) and SB Energy Corp. (10%), a Japanese subsidiary of SoftBank Group.
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