JCM Capital to fund solar PV project development in Japan
Wednesday, May 15, 2013
JCM Capital (JCM) announced today that it has set up a company in Japan to invest in utility-scale ground based solar photovoltaic (PV) projects. The company will focus on projects 10MW and larger, and will be actively seeking partners to develop project sites of 40 hectares and larger. JCM will co-develop and fund project costs through to the construction-ready stage and rely on its construction and long term financing partners to build, finance and operate the projects.
“JCM has the necessary capital and solar PV expertise to complement our local partners’ market knowledge and project management capabilities.”
JCM investments will be used for project specific development costs such as land acquisition, engineering, legal negotiations and hard costs for the local development team. JCM will fund a project as long as there is a clear path to obtain all necessary permitting including a power purchase agreement, interconnection agreement, environmental approvals and land control.
JCM’s CFO, Mr. Martin Ritchie, comments that, “this expansion into Japan is a key part of our corporate strategy to grow our business internationally. We anticipate that Japan will continue to have explosive growth potential considering the great demand for energy, strong political will and the well-designed Feed- in-Tariff (FIT) program.”
JCM has a current target to fund and develop an initial 100MW of projects in Japan. Christian Wray, JCM’s CEO, comments, “JCM has the necessary capital and solar PV expertise to complement our local partners’ market knowledge and project management capabilities.”
Source: Business Wire