【Kamei New Business News #4】Launch of "Hyakunen Solar Tohoku Project," a Social Issue-Solving Business

Kamei Corporation (Head Office: Sendai City, Miyagi Prefecture; President and Representative Director: Akio Kamei; hereinafter "Kamei"), Mitsubishi UFJ Trust and Banking Corporation (Head Office: Chiyoda-ku, Tokyo; President and CEO: Hiroshi Kubota; hereinafter "Mitsubishi UFJ Trust and Banking"), 77 Strategic Investment No. 2 Limited Partnership (operated by 77 Capital Co., Ltd.; Head Office: Sendai City, Miyagi Prefecture; President and Representative Director: Akira Konno; hereinafter "77 Capital"), and Girasol Energy Co., Ltd. (Head Office: Bunkyo-ku, Tokyo; Representative Director: Min Li; hereinafter "Girasol Energy") have entered into a silent partnership agreement with Hyakunen Solar Tohoku LLC (hereinafter "Hyakunen Solar Tohoku") to solve the issues of disposal and abandonment surrounding solar power plants in the Tohoku area and promote decarbonization through long-term stable operation. Subsequently, Hyakunen Solar Tohoku has entered into a project finance agreement with The Bank of Iwate, Ltd. (Head Office: Morioka City, Iwate Prefecture; President and Representative Director: Kyoji Ishizuka; hereinafter "The Bank of Iwate").

1. Background and Objectives of the Project

The "Hyakunen Solar Tohoku Project" is a social issue-solving business that acquires and consolidates small and medium-sized solar power plants scattered across the Tohoku area and operates them stably for the long term, looking beyond the end of the FIT period.

Many solar power plants in Japan rapidly spread after the start of the FIT scheme in 2012, and there are concerns about the disposal and abandonment of power plants after the 20-year FIT period expires. Especially for small and medium-sized solar power plants (less than 1MW generation capacity), which account for about 90% of domestic solar power plants, an increase in facilities with inadequate maintenance and repair is foreseen due to factors such as the aging of owners and rising maintenance costs. Furthermore, in the Tohoku area, there are challenges such as reduced power generation due to snow, damage to panels and mounting frames, and increased output curtailment, which demand even more appropriate monitoring and repair.

To solve these issues, "Hyakunen Solar Tohoku" was newly established with the aim of acquiring and consolidating small and medium-sized solar power plants in the Tohoku area and achieving long-term stable operation utilizing Girasol Energy's strengths in "repowering technology" and "digital technology." Kamei, Mitsubishi UFJ Trust and Banking, 77 Capital, and Girasol Energy will each enter into a silent partnership agreement. Additionally, through project finance from The Bank of Iwate, a local financial institution, a financial foundation will be established to support long-term stable operation even after the FIT period ends, promoting this as a social issue-solving project in the Tohoku area, integrated with regional finance.

[Scheme Diagram]

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