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9 February 2022

Amp boosts solar power in Japan

The renewable energy developer has built four new solar PV plants and secured financing for another, as Japan aims to double its share of renewable electricity by 2030.

By Energy Monitor Staff

Renewable energy developer Amp Energy recently announced it had completed four new solar PV projects in Japan in the fourth quarter of 2021, and secured financing for another.

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The new solar power plants located in Mizunami, Nihonmatsu, Fujioka and Shobusawa have an aggregated capacity of 69.2MW, with an estimated generation of 77,000 megawatt-hours (MWh) per year, equivalent to the annual energy consumption of 22,000 local households.

A photovoltaic solar power plant in Japan. (Photo by Norikazu via Shutterstock)

The developer also secured green bond project financing for a 19.8MW solar power plant in Kushima, Miyazaki Prefecture, in December 2021. Kyocera Communication Systems will be the EPC contractor for the project, which is expected come online in the fourth quarter of 2023. The plant will produce approximately 26,184MWh of electricity per year, equivalent to the annual energy consumption of 6,300 local households.

Canada-headquartered Amp has been expanding its Japanese portfolio over the past six years: the real assets business has now surpassed 235MW of assets operating and in construction, with a pipeline of 200MW in development that will come online by 2025.

Japan aims to increase electricity generation from renewables from 18% in 2019 to 36–38% in 2030, and Japanese companies are the current global leaders in solar PV innovation.

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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