First Solar announced that it has signed a syndicated development loan facility agreement of approximately 7 billion yen (US$64 million) with Mizuho Bank Ltd. for its utility-scale solar project pipeline in Japan using First Solar modules.

This financing represents the first syndicated solar project development loan facility arranged and participated in by Mizuho Bank, and it is the third loan facility First Solar has secured with Mizuho Bank. Today’s agreement demonstrates First Solar’s project development capabilities and track record in successfully financing and delivering projects that support Japan’s goal to be powered by reliable and affordable solar electricity.

This financing arrangement will facilitate utility-scale solar projects that will utilize First Solar’s next generation Series 6 technology, confirming the performance and reliability advantages inherent to First Solar’s technology in Japan. First Solar technology is bankable worldwide and proven domestically to consistently perform above expectations in operation. First Solar’s industry-leading combination of module power output, superior energy production, and stable performance allows mega-solar power plant owners to produce more energy and revenue than alternative technologies.

First Solar provides energy solutions that support Japan’s renewable energy target of 7 percent solar by 2030. First Solar is committed to the Japan market with a long-term sustainable business model.

(Photo source: First Solar)