Solar independent power corporation Etrion has grid-connected a 2.7 megawatt unit of its 9.3-megawatt Mito solar project in Japan.
The utility-scale solar photovoltaic power project is spread across five sites in the Ibaraki Prefecture which are to be connected to the grid at staggered dates till August.
The currently grid-connected site spreads over 5.6 hectares and is expected to produce 3.1 million kilowatt hours of clean electricity per year.
Overall, the Mito project is expected to cover 28.3 hectares and is expected to produce approximately 10.5 million kWh of solar electricity each year.
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The project is being developed by Hitachi High-Tech. They are deploying Hitachi inverters and poly-crystalline photovoltaic modules with fixed-tilt technology made by Canadian Solar in the project.
The special purpose vehicle for the project has entered into a long-term, fixed-price operation and maintenance agreement with Hitachi High-Tech for the project.
Further, Tokyo Electric Power Company has entered into a 20-year power purchase agreement with Mito project company to purchase the output at 40 yen per kilowatt-hour.
Also Sumitomo Mitsui Trust Bank has provided 80 percent of the financing for the project with an 18-year, non-recourse loan.
Etrion owns 87 percent of the Mito project and the rest is owned by Hitachi High-Technologies Corporation, a subsidiary of Hitachi Ltd.
According to Marco A. Northland, the CEO of Etrion, the company is looking forward to advance its Japanese development pipeline in the months ahead.”
Ajith Kumar S