The company will focus on solar PV projects 10MW and larger, and will be actively seeking partners to develop sites of 40 hectares and larger – it has a current target for an initial 100MW of PV projects in Japan. JCM says it will co-develop and fund project costs through to the construction-ready stage and rely on its construction and long term financing partners to build, finance and operate the projects.
JCM investments will be used for project specific development costs such as land acquisition, engineering, legal negotiations and hard costs for the local development team. The firm will fund a project “as long as there is a clear path to obtain all necessary permitting including a power purchase agreement, interconnection agreement, environmental approvals and land control,” it says.
“This expansion into Japan is a key part of our corporate strategy to grow our business internationally,” adds JCM’s CFO, Martin Ritchie. “We anticipate Japan will continue to have explosive growth potential considering the great demand for energy, strong political will and the well-designed Feed- in-Tariff programme.”?