30 March 2015

Solar Frontier sells its first owned-and-operated megasolar power plant

Tokyo-based Solar Frontier - the largest manufacturer of CIS (copper indium selenium) thin-film photovoltaic (PV) solar modules - is selling its 2MW Kunitomi Megasolar power plant in Miyazaki Prefecture, Japan, to a trust account managed by Mitsubishi UFJ Trust and Banking Corp (MUTB). The agreement includes the transfer of all related facilities, contractual positions, rights and obligations. Kunitomi Megasolar, which started operating in March 2013, was the first megasolar power plant owned and operated by Solar Frontier.

Solar Frontier provides one-stop solar energy solutions in Japan, from manufacturing and selling CIS thin-film PV modules to project development, funding and O&M (operation & maintenance). It also builds, operates and sells megasolar power plants in Japan. As part of this business model, it sells electricity as an independent power producer (IPP) with the option to sell completed power plants to investors that wish to avoid construction-related risks.

Following this transaction, Solar Frontier will continue to be involved in the operation of Kunitomi Megasolar as the project's O&M provider.

Solar Frontier says that it aims to use the expertise it has gained by developing and operating the Kunitomi Megasolar power plant as it continues to advance its megasolar business through projects in Japan and overseas.

Tags: Solar Frontier CIS thin-film PV modules

Visit: www.solar-frontier.com