Obton A/S and GSSG Solar, LLC have announced their inaugural joint venture to acquire a portfolio of nine solar projects in Japan, totaling 117 MW in capacity.
This strategic collaboration marks a significant step in their shared commitment to expanding renewable energy generation in the Japanese market.
Expanding Renewable Energy Portfolio in Japan:
Of the nine acquired projects, eight are already operational, generating 104 MW of electricity, while one 13 MW project is under development.
The operational projects were commissioned between 2017 and 2022 and are part of Japan’s Feed-in Tariff program, introduced in 2012. The projects are spread across seven prefectures, contributing to a wider distribution of renewable energy generation.
Strengthening a Successful Partnership:
This partnership builds upon a strong relationship established between Obton and GSSG over the past three years. Prior to this transaction, Obton acquired GSSG’s largest solar asset, an 82 MW plant in Fukushima.
Mikkel Berthelsen, Chief Acquisition Officer at Obton, highlighted the strategic importance of this collaboration for Obton’s expansion in the Japanese renewable energy market.
Shared Commitment to Sustainable Energy:
Charlie McDaniel, Partner and Head of Origination at GSSG Solar, LLC, expressed satisfaction with the continued collaboration, emphasizing GSSG’s dedication to fostering long-term relationships with valued partners like Obton. The companies share a common goal of driving the transition to sustainable energy sources.
Future Prospects:
Yoshiyasu Sumi, Partner and Country Manager of GSSG Solar Japan Inc., noted that the acquired projects will be integrated into their asset management platform, renowned for its ability to optimize operational projects. This acquisition highlights the ongoing commitment of both companies to develop high-performing and profitable energy projects.
International Collaboration for Renewable Energy Growth:
The acquisition of this solar project portfolio by Obton and GSSG Solar underscores the importance of international collaborations in the renewable energy sector. These companies are well-positioned to continue investing and developing large-scale projects in Japan and beyond, contributing to a more sustainable energy future.