Shinsei Bank has arranged ¥6.4bn ($62.7m) of project financing for a 16.7MW solar project in southern Japan. A unit of Spanish developer X-Elio Energy — formerly Gestamp Solar — expects to start generating electricity at the site in Hayato, Kagoshima prefecture, by January 2018. It did not disclose the feed-in tariff rate at which the project will be built. Madrid-based X-Elio Energy, renamed after Kohlberg Kravis Roberts acquired an 80% stake in Gestamp, has developed 12 solar projects in nine countries.