JRE achieve financial close for Kamisu biomass power project
According to Global Trade Review (GTR), Japan Renewable Energy Corporation (JRE) has achieved financial close on its first biomass power plant project in Japan.
According to Global Trade Review (GTR), a group of Japanese banks led by Shinsei Bank acting as the mandated lead arranger have provided JPY 11.7 billion (≈ US$104.25 million) in financing to Japan Renewable Energy Corporation (JRE) for its first biomass power project. Construction on the 24 MW woody biomass power plant in Kamisu, north-west Japan began in June and is due for completion in May 2019.
Founded in 2012, JRE has built and/or developed 27 solar power farms and two wind farms in Japan. The company has a business partnership with Eco Green Co., Ltd (currently Eco Green Holdings Co., Ltd.), which manufactures and sells woodchips made from construction waste.
The Kamisu project is the first biomass power plant project for the company and, according to GTR, the company intends to build more than 10 new biomass facilities by the end of the decade, with an expected investment of some JYP 40 billion (≈ US$ 356.4 million).