Vena Energy, a leading Asia-Pacific renewable independent power producer (IPP), has acquired X-ELIO’s 162 MW solar project in Miyagi Prefecture.
The Project will be one of the largest renewable energy projects in Northern-Eastern Japan
Through this sale, X-ELIO demonstrates once again its ability to execute on its strategy to bring to market world class solar PV plants and will continue to further expand its Japanese business.
X-ELIO, a leading global company specialized in the development, construction, financing and operation of photovoltaic plants, has sold the landmark 162 MW Solar PV Project Amateras Shiroishi in Miyagi Prefecture (Japan) to Vena Energy, Asia-Pacific’s leading independent power producers (IPP).
The deal underpins X-ELIO’s ability to successfully execute its strategy which is focused on bringing to market best in class solar PV plants and recycling the proceeds from sales into its own expanding pipeline.
Following the sale, X-ELIO continues to have a strong commitment to the Japanese market. Since X-ELIO established operations in Japan in 2012, it has successfully developed 380 MW and it has plans to expand its presence in the country in the future.
“After 8 extremely successful years in Japan, X-ELIO continues to invest in this market developing and building new projects, expanding our team in Tokyo and looking at partnership opportunities to accelerate our growth in solar. The team has successfully developed 380 MW that will save 261,649 tons of CO2 emissions in Japan per year. Contributing to the Japanese Government target of efficiently reducing CO2 emissions is at the heart of what we do and we are 100% committed to continue investing to accelerate this ambitious objective.”
Lluis Noguera, CEO of X-ELIO
“We are excited to work closely with the host communities in Miyagi Prefecture and commence the construction of this landmark large-scale solar project. Since we started our operations in Japan in 2013, we have established strong collaborations and enduring relationships with our local stakeholders through our renewable energy operations across the country. We look forward to a continued long-term cooperation with our host communities in Miyagi Prefecture and a successful delivery of Amateras Shiroishi Solar Project, which will strengthen the development of local infrastructure and create jobs.”
Juan Mas Valor, Head of Vena Energy Japan
About X-ELIO:
X-ELIO is a leading company specialized in the development, construction, financing and operation of photovoltaic plants with global presence in Europe, United States, Latin America, Japan and Australia. The firm counts with 15 years of experience in the industry with more than 2.5 GW built and 25 PV plants in operation and presence in 10 countries. In 2019 it achieved a revenue in excess of €100M. The group is a global leader in renewable and sustainable energy, with a strong commitment to the reduction of greenhouse gases and the fight against climate change.
About Vena Energy
Vena Energy is a leading pure renewable Independent Power Producer (IPP) in the Asia-Pacific region, with over 11 GW(1) in operation, construction, and development. Headquartered in Singapore, Vena Energy manages the development, design, procurement, construction and maintenance of its solar, wind and battery energy storage systems in Australia, India, Indonesia, Japan, Philippines, South Korea, Taiwan and Thailand. Vena Energy is committed to engaging with local communities throughout the lifecycle of its portfolio projects, as well as incorporating internationally recognized Environmental, Social and Governance (ESG) standards into its strategy and business practices. For more information, please visit www.venaenergy.com.
- Includes assets in operation, construction, and shovel ready (OCSR) stages, and projects in various stages of development.
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