Tokyo-based Sojitz expects to finish building the project on the Shimokita peninsula in Rokkasho district, Aomori prefecture, by late 2016. Upon completion,it will be one of the biggest PV plants in the country.

BTMU and the DBJ, a state-owned lender, will act as lead arrangers for the loan, which will “help to promote renewable energy in northeastern Japan",according to a DBJ statement.