The deployment will take Sonnedix’s global reach well beyond 1 GW, with almost 500 MW operating and more than 500 MW under development and construction. The expansion also builds on NSS’s position as a leader in the Japanese solar market with a significant portfolio of utility scale solar photovoltaic projects under development, construction or in operation.
Sonnedix is and independent solar power producer (IPP) that is majority owned by institutional investors and advised by J.P. Morgan Asset Management, while GSSG is a solar investor with significant experience navigating complex solar project financings across multiple jurisdictions. GSSG was an early-mover in the Japanese market and initiated work on this portfolio in early 2014.
GSSG and NSS have established a joint development framework to finalise the development and construction of these facilities for Sonnedix, while maintaining their obligations to the local project partners in and around each project site. The two companies have discussed continued collaboration in Japan and other geographies including the US.
“The announcement of a major expansion of our pipeline projects in Japan demonstrates our long-term commitment to the Japanese market, which once fully built, will bring the total investment in the country to over $1.3 billion” said Andreas Mustad, CEO of Sonnedix. “We are pleased to have formed a strategic alliance with an experienced industry player like GSSG and look forward to continued cooperation across jurisdictions”
Tomakin Archambault, CEO of GSSG Solar LLC, added that the proceeds from the project portfolio will allow the company to further enhance its footprint in Japan and that it is committed to investing in more solar PV projects in the country.
Image: Oriana solar farm in Puerto Rico (Sonnedix)