SMFL Mirai Partners, a subsidiary of Sumitomo Mitsui Finance and Leasing, signed a framework agreement with GreenEnergy Plus to acquire around 50 low-voltage solar power plants totalling 5MWDC by March 2026. The announcement was made by the parent companies of both firms on October 20.
Under the agreement, GreenEnergy Plus will be responsible for the development, engineering, procurement, and construction (EPC) of the facilities. SMFL Mirai Partners plans to establish a special purpose company that will acquire the assets and sell their output through corporate power purchase agreements (PPAs). The company stated that it is investing in solar projects ahead of confirmed demand to respond swiftly to future needs.
50MW solar portfolio targeted by 2030
The two partners aim to significantly expand their cooperation with a portfolio exceeding 500 assets totalling approximately 50MWDC by the end of fiscal 2030. This approach reflects SMFL Mirai Partners’ effort to reinforce its renewable capacity in response to rising demand for corporate PPAs.
Alongside the framework agreement, SMFL Mirai Partners has already committed to acquiring an initial batch of four solar projects, each with a capacity of approximately 110kWDC. These installations are located in Tochigi Prefecture, Gunma Prefecture, Ibaraki Prefecture, and Chiba Prefecture.
Rising number of solar partnerships
The tie-up follows a series of similar agreements signed earlier this year by SMFL Mirai Partners with MIRAIT One, Sun Village, and H.E Energy. The company is seeking to secure substantial solar output for upcoming electricity supply contracts.
GreenEnergy Plus, meanwhile, plans to develop more than 350 low-voltage solar plants during fiscal 2025. In June, it signed a 5MW contract with ENEOS Renewable Energy, while in May, its affiliate GreenEnergy NexX agreed to build 50MW for a fund managed by the Kansai Electric Power Group.
