Consortium of Japanese firms acquires Solariant’s biomass power plant
Chubu Electric Power Co, Inabata & Co, Taihei Dengyo Co, Tokyo Sangyo Co and Hitachi Zosen Corporation entered into an agreement with Solariant, a renewable investment and development company based in Pasadena, California, to acquire the project, which is expected to produce 380,000 GWh of electricity annually.
Construction and operation of the project in Fukuyama, Hiroshima, is expected in May 2025. The biomass plant will produce enough electricity to support the usage of around 120,000 average households in Japan.
The project will be constructed by Hitachi Zosen consortium, with ground-breaking expected this year, and Sumitomo Mitsui Trust Bank will provide the project debt. Solariant retains a majority interest in the project company.
“This is the second biomass project we are working on with Chubu Electric and Hitachi Zosen,” said Daniel Kim, managing director of Solariant Capital, “and we are excited to expand our project partnership with great partners.”