Obton partners with investment manager to acquire a 117 MW portfolio of Japanese solar projects
Danish solar PV company Obton announced its first joint venture with investment company GSSG Solar. Together, the two firms acquired a portfolio of nine Japanese solar projects totalling 117 MW.
Obton said eight of these projects are operational (104 MW), while one is under development (13 MW).
Mikkel Berthelsen, Obton’s Chief Acquisition Officer, said, “We are thrilled to partner with GSSG Solar on this project, marking a significant milestone in our efforts to expand our renewable energy portfolio in Japan. This collaboration underscores our commitment to sustainable energy and highlights the strength of our partnership with GSSG. We are excited about taking our collaboration further in the future.”
This portfolio is expected to generate enough electricity to meet the needs of over 30,000 Japanese households.
Additionally, the acquired projects are estimated to reduce global carbon emissions by over 58,000 tons annually. As part of Japan’s Feed-in-Tariff program introduced in 2012, these projects will provide electricity across a wide area, with sites located in seven prefectures.
Also read: Japan’s Itochu signs renewable energy agreement with Google
Before this transaction, Obton acquired GSSG’s largest solar asset (82 MW) in Fukushima, Japan.
Charlie McDaniel, Partner and Head of Origination at GSSG Solar, LLC, said, “GSSG prides itself on deepening existing relationships with respected partners. We have enjoyed the partnership with Obton and look forward to continuing our relationship with them on additional projects in the future.”
Yoshiyasu Sumi, Partner and Country Manager of GSSG Solar Japan Inc. added, “We look forward to adding these projects to our existing robust Asset Management Platform, where we have a long track record of adding value to operating projects.”
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