Obton A/S and GSSG Solar, LLC have announced their first joint venture to acquire a portfolio of nine solar projects in Japan, representing a total capacity of 117MW. Eight of these projects are already operational, generating 104 MW of electricity, and a 13 MW project is under development. Operational projects were commissioned between 2017 and 2022.
These facilities are part of Japan’s Feed-in Tariff program, introduced in 2012, and are located in seven prefectures. This acquisition marks an important step in Obton’s strategy to strengthen its presence in the Japanese renewable energies market. Despite Tokyo’s preference for nuclear power, renewable energy projects are multiplying in Japan.
Strengthening the relationship between Obton and GSSG Solar
This partnership strengthens the relationship that Obton and GSSG have developed over the past three years. Prior to this transaction, Obton had already acquired GSSG’s largest solar asset, an 82MW plant in Fukushima. Mikkel Berthelsen, Chief Acquisition Officer at Obton, emphasized the strategic importance of this collaboration for the expansion of Obton’s portfolio in Japan.
Charlie McDaniel, Partner and Head of Origination at GSSG Solar, LLC, expressed his satisfaction at the continuation of this collaboration, indicating that GSSG values long-lasting relationships with partners like Obton.
Future prospects
Yoshiyasu Sumi, Partner and Country Manager of GSSG Solar Japan Inc, mentioned that these projects will be integrated into their asset management platform, known for its ability to optimize operating projects. This acquisition reflects both companies’ ongoing commitment to developing efficient, cost-effective energy projects.
The acquisition of this portfolio of solar projects by Obton and GSSG Solar underlines the importance of international collaboration in the renewable energies sector. These companies are well positioned to continue investing and developing large-scale projects in Japan and beyond.
