Sky Solar Japan Successfully Finances & Connects PV Plants to the Grid

BEIJING, April 9, 2013 /PRNewswire/ -- On April 2, 2013, Sky Solar, a global solar power station investor and operator, announced that its Japanese subsidiary - Sky Solar (Japan) - had achieved successful grid-connection of two PV power stations located at Otsuka-cho, Tochigi Prefecture, Honshu Island and Kamishihoro-cho, Hokkaido. These two plants were connected on March 15 and March 30 respectively. These two projects total approximately 2.3MW with an annual generation capacity estimated to be 2,528,000 kWh. After only half a month of operation and data monitoring, these projects are already showing generation capacity 15% higher than expected. Both of these projects are also entitled to a Japanese FiT of 42 Japanese Yen (approx. USD 0.43) /kWh over 20 years.

These two projects were among a total of 10 MW under construction by Sky Solar Japan, part of Sky Solar's 200MW '20 year, 42 Yen /kWh FiT' fully licensed projects. In April and May this year, Sky Solar Japan will seek to achieve grid-connection of another 4 PV projects currently under construction, and from May this year Sky Solar will invest and begin the simultaneous construction of another 30 PV power projects in Japan.

Being active in the Japanese market since 2009, Sky Solar has now completed all of the key elements including the development, investment, construction, project management, grid-connection and operation and management of PV power projects in Japan offering a complete closed-loop of PV power projects in Japan. In addition to this, Sky Solar has also created a new localized financing model for their projects in Japan, different from the traditional financing models used for solar projects elsewhere around the world.

Mr. Weili Su, Chairman of the Sky Solar Group was quoted as saying: "The Japanese solar market has transparent rules, a clear division of labor, high capital mobility and low financing costs. All of these factors make Japan the perfect IPP market for renewable investments. The success of Sky Solar's PV projects in Japan has a far-reaching effect not only locally in Japan, but as a significant milestone for the entire Sky Solar Group. Sky Solar has developed a new financial model and has now set an example for Sky Solar's investment and financing in other regions of the world as well. Sky Solar has proven itself and is delighted with the recognition we are receiving for the secure, reliable and high value investment of our solar power assets. Sky Solar hopes to continue working with ambitious and motivated people from all industries to promote the development of renewable energy!"

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SOURCE Sky Solar Holdings Co., Ltd