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Shinsei, Partners to Provide 7.5 Billion Yen Solar Project Loan

Shinsei Bank Ltd. and two other banks will provide a 7.5 billion yen ($74 million) loan for a solar power station in Tochigi prefecture, north of Tokyo.

Two regional banks, Ashikaga Bank Ltd. and Joyo Bank Ltd. will join Shinsei, which will serve as the arranger of the loan, Tokyo-based Shinsei said in a statement today.

The 24.8 megawatt solar station is being developed by Tokyo-based Renova Inc. and a unidentified partner, and will start operations in September 2015, according to the statement.

Shinsei plans to provide as much as 200 billion yen in loans for clean energy projects, Tsukasa Makizumi, an executive officer and general manager of the specialty finance division of the bank, said in an interview last week.

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