Wirsol, Greenpower target Japanese PV for EPC and finance
German solar developer Wirsol and renewables finance specialist Greenpower Capital have formed a joint venture to target the Japanese PV market.
Wirsol and Los Angeles-based Greenpower will offer engineering, procurement and construction (EPC), operations and maintenance, and project finance services to PV projects of 10MW and above.
Wirsol believes it can transfer its experience from the German solar industry to Japan, which is currently seeing strong interest in PV development following the launch of a competitive feed-in tariff regime .
The partners claim project finance has proved an early barrier for some developers.
Jeff Butler, president of Greenpower Capital, says: “We have been involved with project finance in the US, Ontario, Puerto Rico, Dominican Republic, UK and other feed-in-tariff markets.
“Establishing an office in Japan was the natural progression. We have found that project finance for plants larger than 10MW can be very difficult to obtain in Japan.”