Michinoku Bank Provides 2 Billion Yen Loan for Eurus Solar Plant

Michinoku Bank Ltd. (8350), a regional bank, will provide 2 billion yen ($20 million) in loans for a solar power plant Eurus Energy Holdings Corp. is building in the northern prefecture of Aomori.

The bank, based in Aomori, will provide the loan as part of 39.4 billion yen project financing with 13 other banks led by the Bank of Tokyo-Mitsubishi UFJ, Michinoku said in a statement yesterday.

Eurus, a Japanese developer of solar and wind projects, is building the 115-megawatt station in Rokkasho Village which will start operations in November 2015, the company said in August.

Aomori Bank Ltd. (8342), another partner in the 39.4 billion yen syndicated loan, will provide a 4 billion yen loan, the Aomori-based regional bank said in a separate statement today.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.