Aozora, Other Banks to Provide Loan for 14MW Japan Solar Park

Aozora Bank Ltd. and other banks will provide loans for a 14-megawatt solar power station in northwestern Japan.

Three regional banks -- the Daishi Bank Ltd., the Taiko Bank Ltd., and the Hokuetsu Bank Ltd. -- will join Aozora for the funding of the plant under construction in Niigata prefecture, the banks said in a statement Thursday. No financial terms were disclosed.

The 5 billion yen ($42 million) station is being developed by Japan Renewable Energy Co. and Kitac Corp., according to the statement. It is scheduled to begin operations in December.

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