First Solar Secures Syndicated Development Loan Facility from Mizuho for Solar Projects in Japan

This financing represents the first syndicated solar project development loan facility arranged and participated in by Mizuho Bank, and it is the third loan facility First Solar has secured with Mizuho Bank.

First Solar has announced that it has signed a syndicated development loan facility agreement of approximately $64 million with Mizuho Bank for utility-scale solar project pipeline in Japan using First Solar modules.

This financing represents the first syndicated solar project development loan facility arranged and participated in by Mizuho Bank, and it is the third loan facility First Solar has secured with Mizuho Bank. Today’s agreement demonstrates First Solar’s project development capabilities and track record in successfully financing and delivering projects that support Japan’s goal to be powered by reliable and affordable solar electricity.

This financing arrangement will facilitate utility-scale solar projects that will utilize First Solar’s next generation Series 6 technology, confirming the performance and reliability advantages inherent to First Solar’s technology in Japan. First Solar technology is bankable worldwide and proven domestically to consistently perform above expectations in operation said the company in a statement.

First Solar provides energy solutions that support Japan’s renewable energy target of 7 percent solar by 2030.