J-Power signs aggregation service deal for 20 MW of solar in Japan

Japanese utility Electric Power Development Co Ltd (TYO:9513), or J-Power, entered into an aggregation service contract with a subsidiary of local company Photon Capital LLC for electricity from approximately 20 MW direct current (DC) of solar power projects.

The deal is part of a virtual power purchase agreement (VPPA) between Photon and an unnamed major Japanese manufacturer, J-Power announced on Friday.

As the aggregator for the VPPA, J-Power is responsible for, among other things, balancing the power supply, managing the output, forecasting and power trading.

Overall, Photon will develop seven new high-voltage photovoltaic (PV) parks on idle land in the Hokkaido, Tohoku, and Chugoku regions. The company also signed a nonrecourse project financing agreement with ORIX Bank Corporation, J-Power noted.

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