IBC SOLAR signs framework agreement to sell its project pipeline in Japan

A transaction of 37 MWp - extendable to 165 MWp - representing IBC SOLAR’s consolidation as a leading international large-scale PV project developer

Bad Staffelstein / Germany, September 26, 2016 – IBC SOLAR Energy GmbH, the international project development front of the global PV service provider IBC SOLAR AG, further expands its project business in Asia and has signed an agreement on the sale of a 37 megawatts (MW) Japanese project pipeline.

IBC SOLAR and BRUC Capital signed the framework agreement for the sale of a project pipeline comprising 27 projects and 37 MW of photovoltaic solar power parks in Japan to be built within the next 3 years. The corresponding initial investment exceeds 90 Million Euros. In order to finance this operation, the Macquarie Group and BRUC Capital will join their contributions.

The President of BRUC, Juan Béjar, considers this agreement as “a considerable step forward to consolidate the project of BRUC Management as a conduit of investments in the sector of the renewable energies at global level”.

“We are very pleased with our strategic relationship with BRUC Capital and Macquarie, which has positively developed over the last months, bringing together the professionalism and know-how of our companies”, states Udo Möhrstedt, CEO and founder of IBC SOLAR AG.

With focus in the medium-size segment of projects with ab capacity up to 5 MW, IBC SOLAR started operations in Japan back in 2014, and has already constructed more than 10 MW in this country. “With this agreement, IBC SOLAR Energy is reaching its first important milestone by closing the loop started two years ago: the subsequent setting of IBC SOLAR Projects KK and the development of a comprehensive pipeline of over 60 MW in Japan”, says Antoni Beltrán, COO of IBC SOLAR Energy GmbH.

The agreement includes the sale transaction of the first two projects: a 1.6 MWp plant in the Toyama prefecture and a 0.5 MWp plant in the Gifu prefecture. “IBC SOLAR’s extensive experience in the development and implementation of large-scale projects is fulfilling the demanding requirements of customers like BRUC Capital and Macquarie“, states Beltrán. The construction of another two PV plants located in the Saitama and Ibaraki prefectures and totalling a capacity of 3.5 MWp is planned to start in October 2016.

IBC SOLAR Energy GmbH focuses on the Asian PV markets, leveraging of substantial synergies of this regional strategy. “We are developing a consistent pipeline of more than 400 MW in Japan, India and South East Asia”, says José María Llopis, CEO of IBC SOLAR Energy GmbH. “The market conditions and requirements of these countries are quite diverse, and only through IBC SOLAR’s broad experience of 33 years in the development of PV projects worldwide we are able to cope with each market´s challenges.”