Chubu Electric Power and a Consortium of Investors Acquire 52.7 MWp Biomass Project From Solariant Capital

PASADENA, Calif., Feb. 10, 2022 (GLOBE NEWSWIRE) -- Solariant Capital, LLC ("Solariant"), a renewable energy investment and development company headquartered in Pasadena, California, is pleased to announce that a consortium of Japanese companies including Chubu Electric Power Co., Inc., Inabata & Co., Taihei Dengyo Co., Ltd., Tokyo Sangyo Co. Ltd., and Hitachi Zosen Corporation entered into an agreement with Solariant to acquire its 52.7 MWp biomass power plant project (the "Project"). Solariant retained a minority interest in the project company, Fukuyama Biomass Power Plant GK.

The Project, which is anticipated to complete construction and begin operation in May 2025, is located in Fukuyama, Hiroshima, and is expected to produce 380,000 GWh of electricity annually, which is equivalent to the electricity usage by 120,000 average households in Japan. The Project will be constructed by Hitachi Zosen consortium (to breaking ground in 2022), and Sumitomo Mitsui Trust Bank is providing the project debt. "This is the second biomass project we are working with Chubu Electric and Hitachi Zosen, and we are excited to expand our project partnership with great partners," commented Daniel Kim, Managing Director of Solariant Capital. 

About Solariant Capital, LLC: Solariant Capital is an experienced utility-scale renewable energy development and investment company focused on utility-scale solar, energy storage, and biomass power plant projects in Asia and the United States with offices in Pasadena, California; Tokyo, Japan; Seoul, Korea; and Manila and Bislig, Philippines.

Contact Info: 
Solariant Capital, LLC 
(626) 544-0279

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Image 1: [Rendering of Fukuyama Biomass Power Plant]

[Rendering of Fukuyama Biomass Power Plant]

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[Rendering of Fukuyama Biomass Power Plant]