Pattern Energy Group LP and Green Power Investment Corp. (GPI) completed the 42-MW Futtsu Solar photovoltaic power plant in Japan.
Pattern Development and GPI are joint venture partners that developed and built the Futtsu Solar plant, and GE Energy Financial Services (NYSE: GE) maintains an ownership stake in the project. Additional financing was provided by a syndicate of four banks, led by The Bank of Tokyo Mitsubishi UFJ Ltd.
Futtsu Solar has a 20-year power purchase agreement with Tokyo Electric Power Co. for 100 percent of the output from the facility. The facility connects to the transmission grid through a 66 kV line. Kyocera Solar Corp. provided the PV solar panels. GPI managed construction of the project and will manage it ongoing operations. Kyocera Communication Systems Co. will provide ongoing operations and maintenance services.