Project Sodegaura, located in Chiba-prefecture, has an installed capacity of 16 MW and will deliver over 19 GWh of renewable and sustainable energy annually, offsetting more than 9,400 tons of CO2 emissions
This financing agreement, over 53 million USD, highlights the strength of X-ELIO in Japan, where it has been present since 2012 and has built approximately 400 MW in the country
Madrid, 17 February 2022. X-ELIO, leading global company specialized in the development, construction, financing and operation of sustainable energy projects has recently closed a financing deal for its Sodegaura solar PV plant in Japan with Societe Generale and ING.
The funding obtained through this agreement will be used for the construction, operation and management of the 16 MW Sodegaura solar PV plant, located in the Chiba prefecture of Japan in Tokyo Bay.
The PV plant is expected to be connected to the grid by Q4 2022, and will deliver over 19 GWh of renewable energy annually, offsetting more than 9,400 tons of CO2 emissions. Construction works are being carried out by Solarig Japan Services G.K., which began last August and is progressing according to schedule.
“The closing of the 6,160 Million Yen Facility Agreement is another successful achievement for the company’s business in Japan. This agreement crystallizes our ability to raise competitive finance with global leading financial institutions. Sodegaura’s financing is another example of Societe Generale and ING trust in the development of X-ELIO’s sustainable solutions portfolio”.David Diaz, CFO of X-ELIO
“Providing Japan with reliable, economic and sustainable energy is our core business. We have great expectations in the market and will continue to support the country in the achievement of its long-term renewable targets.”Toshiaki Isoi, Country Manager of X-ELIO in Japan
“X-ELIO counts among the most experienced global developers of photovoltaic power generation assets. Japan is a critical market in the energy world, paving the way of the energy transition in Asia-Pacific. This project supports the further development of photovoltaic energy in Japan – one of the pillars of the country’s energy strategy – and it allows X-ELIO to consolidate its successful track record in Japan. We are therefore delighted to support our client X-ELIO by playing a key role in financing their Sodegaura solar photovoltaic project.”Cedric Chatel, Managing Director – Energy + Group of Societe Generale
“We are delighted to support X-ELIO’s Sodegaura solar photovoltaic project in Japan, leveraging on ING’s Asia Pacific network to strengthen our global relationship with X-ELIO. In addition to our own net-zero climate ambitions, ING is proud to finance renewable energy projects in the markets we operate in, and is committed to support our clients in their energy transition journeys.”Adrian Lian, APAC Lead for Renewables & Power, Energy Sector Coverage of ING
X-ELIO is specialized in the development, construction, financing and operation of sustainable energy projects with a global presence in Europe, the United States, Latin America, Japan and Australia. The firm has 17 years of experience with more than 2.6 GW built. The group is a world leader in the development of renewable and sustainable energy, with a strong commitment to greenhouse gas reduction and the fight against climate change.
About Societe Generale:
Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions.
Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 133,000 members of staff in 61 countries and supports on a daily basis 30 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:
- French Retail Banking which encompasses the Societe Generale, Credit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation
- International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets
- Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.
Societe Generale is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe). For more information, you can follow us on Twitter @societegenerale or visit our website www.societegenerale.com
ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank’s more than 57,000 employees offer retail and wholesale banking services to customers in over 40 countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks by Sustainalytics and MSCI. ING ranks first in our marketcap group by Sustainalytics as of July 2020. ING’s ESG rating by MSCI was upgraded to ‘AA’ in December 2020. ING Group shares are included in major sustainability and Environmental, Social and Governance (ESG) index products of leading providers STOXX, Morningstar and FTSE Russell. In January 2021, ING received an ESG evaluation score of 83 (‘strong’) from S&P Global Ratings.
ING in Asia Pacific
In Asia Pacific, ING offers wholesale banking across 11 markets, namely Australia, China, Hong Kong SAR, India, Indonesia, Japan, the Philippines, Singapore, South Korea, Taiwan, and Vietnam.
ING offers both retail and wholesale banking services in Australia. The bank also started its digital banking platform in the Philippines in 2018. ING’s regional presence includes a 13% stake in Bank of Beijing, China and a 23% stake in TMB Thanachart Bank, Thailand.
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