Vena Energy secures green loan for 53MW Japan solar project

The financing was led by the MUFG Bank and co-financed by Joyo Bank.

Vena Energy has secured a green loan of around $120.1m (JPY16.9b) for the 53-megawatt Kasama Solar Project in the Ibaraki Prefecture in Japan.

In a statement, Vena Energy said the financing arrangement was led by the MUFG Bank and co-financed by Japan’s Joyo Bank.

The project can generate electricity that can meet the needs of over 14,000 households annually.

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It will also reduce over 38,000 tonnes of greenhouse gas emissions and save up to 54 million litres of water compared to thermal plants.

“Japan has set ambitious targets for its energy transition strategy, up to 38% of its energy mix coming from renewable energy by the end of 2030, and the Kasama Solar Project is another step towards realizing that goal. We look forward to delivering this project to the host communities in Ibaraki Prefecture,” said Raul Rienda, Head of Vena Energy Japan.

$1 = JPY140.70