CHIBA, Japan, Dec. 19, 2017 /PRNewswire/ -- Unisun Energy Group announced that the 500KW photovoltaic project in Chiba Prefecture, Japan, to be constructed by its branch Unisun Japan, has obtained a non-recourse project finance with low-interest from the Hyakujushi Bank, Ltd., Japan. It is reported to be the third PV project of Unisun Japan that has successfully received financial support from local banks.
The renewable energy projects developed by Unisun in Japan have played a significant role in promoting the energy upgrade in the country. In virtue of its world leading PV technologies and talents originating from Germany, high-level energy solutions, expertise in project development and construction, and social responsibility demonstrated during social energy transformation, Unisun won the active responses from the Japanese government and local financial institutions.
According to a report recently issued by the Institute for Energy Economics and Financial Analysis (IEEFA), as of 2030, the proportion of solar photovoltaic generation to the total power generation in Japan is expected to rise to 12%. The power system in the northern cities of Japan is transforming from old grids to autonomy and localization, with approximately 40,000 cities opting to build microgrids and centralized renewable energy generation plants to achieve self-sufficiency.
As the largest distributed generation (DG) PV investor in China, Unisun Energy actively explores new markets overseas while reinforcing its business in China. Early 2013, Unisun set up a branch in Tokyo to formally enter Japan's renewable energy market. After several years of market development and team building, it now has owned independent development right over projects with more than 80MW capacity in Japan and has acquired the qualification for local engineering, procurement, and construction (EPC). This March, Unisun Japan's EPC project – 15MW PV project in Okajima, Fukushima, was successfully connected to grid. Up to date, Unisun Japan possesses three PV power plants that are owned and operated by itself.
Unisun Japan first obtained a large long-term loan from Mitsubishi Electric Credit Corporation (MECC) for its 1MW PV power station in. Soon following the momentum, 2MW PV power station in Tochigi Prefecture passed the loan approval from the Sumitomo Mitsui Banking Corporation in a short time, attaining financial support of totally JPY 500 million (about RMB 30 million).
The Sumitomo Mitsui Banking Corporation was formed by the merger of Sumitomo Bank, a central component of the Sumitomo Group and Sakura Bank of Mitsui Group, with total assets of JPY 160 trillion. It is Japan's third largest commercial bank, and listed the Top 10 commercial banks in the world. The Hyakujushi Bank, Ltd., which provides a large loan with low-interest of JPY 160 million for Unisun Japan's 500KW project in Chiba, is a century-old local bank established in 1878.
Peng Hao, CEO of Unisun Energy Group, said in the interview that the financial support by Japan's financial institutions is a high recognition of the company's innovative business model and professional service quality, which also produces a firm force for its continuous layout in the global market in the future.
Hao also revealed in the interview that, in addition to its existing business concerning solar energy development, construction and O&M, Unisun Japan will engage in other renewable energy fields such as biomass power generation and small household wind power generation. In the future, Unisun Energy will reach to more areas, aspiring to propel the green energy revolution from all aspects.