Japanese renewables developer Shizen Energy Inc has announced the operational status of a 25-MW solar park in Aichi prefecture, Japan, tied to a 20-year virtual power purchase agreement (VPPA) with Microsoft Corp.
The Inuyama Solar Power Plant is expected to generate around 37,000 MWh of clean electricity annually, meeting the demand of approximately 7,850 households.
Toshiba Energy Systems & Solutions Corp manages the solar park's electricity sales to the market as an aggregator.
The financing for the development and construction of the solar park was arranged by Societe Generale, while Canadian institutional investor Caisse de depot et placement du Quebec (CDPQ) acquired an 80% stake in Inuyama in February 2024.
CDPQ's investment is part of a JPY-50-billion (USD 330.5m/EUR 305.3m) co-investment framework with Shizen Energy, following a JPY-20-billion investment in 2023.
