Solar Power Inc. has signed an agreement with K.K. Uniroot to jointly develop a pipeline of more than 500 megawatts of solar projects in Japan.
SPI and Uniroot will establish a joint venture in Japan, in which SPI will hold no less than 51% equity interest, for the development of the projects. SPI will assume primary responsibility for certain functions including project funding, construction and equipment procurement, with Uniroot bearing primary responsibility for other matters including land purchase and lease, securing necessary permits, and obtaining power purchase agreements with local utilities,
“We are delighted to announce this partnership agreement with Uniroot to jointly develop solar PV power plants in Japan, one of SPI’s core markets globally,” said Xiaofeng Peng, Chairman of SPI. “Combining SPI’s leading expertise in developing world-class PV power plants with Uniroot’s deep local connections and experience in the Japanese solar market, we are confident that this a win-win partnership which will create significant value for both parties in the years ahead.”