Sky Solar signs LOI to sell 152MW solar project in Japan to SPC

Hong Kong based PV firm Sky Solar Holdings has signed  a Letter of Intent (LOI) to sell 152MW of solar projects in Japan to Solar Partnership Capital (SPC).

The decision to sell solar projects at different stages of development came with an intention to invest further in solar projects within Japan.

The projects are either in operating stage, under-construction, or ‘shovel-ready.’ The total purchase price of the project has been set at JPY17 billion (US$165 million), subject to closing adjustments.

The Letter of Intent (LoI) for the transaction will be terminated on 31^st August, but with the possibility for extension. Also, the proceeds from the transaction will be used to repay debts, and reinvested in other solar projects within the country.

Source: PV Magazine