Nonghyup to invest in Japanese solar power plant

• 3 years ago (2021-06-25)
• David Flin

Asia 892 Solar 273

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Nonghyup Financial Group of South Korea will invest $22 million in a solar power plant in Japan as part of its sustainable green growth initiative. It will acquire a 35 per cent stake in a solar power plant located in Chitose, Hokkaido, Japan from Korea Electric Power Corp . (KEPCO). KEPCO will still remain as the largest shareholder of the Chitose plant, with a stake of more than 50 per cent.

The Chitose plant has a capacity of 28 MW and is backed by an energy storage system with a capacity of 13.7 MWh. It started operation in 2017 and supplies power in the area under a 20-year contract with Hokkaido Electric Power Co .

This investment is part of Nonghyup’s initiatives that aim to expand its investment in sustainable and green energy at home and abroad.