Japanese Solar Project Lands Novel $172M Financing Deal

Law360, New York (April 2, 2013, 5:08 PM EDT) -- Japanese alternative energy and financial services firm Japan Asia Group Ltd. has secured a 1.6 billion yen ($171.5 million) loan from Shinsei Bank for its solar power development on the island of Hokkaido, Shinsei announced recently.

Shinsei will provide the loan to JAG Energy Co. Ltd., a subsidiary of the Japanese conglomerate, the bank said on March 25. JAG Energy is building five mega solar power facilities on Hokkaido, Japan's second-largest island, that will have a combined generation capacity of roughly 5.5 megawatts.

The financing represents...
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