05/06/2020 Press release
Renewables: Tohoku Electric takes a 45% stake in Total's 52MW solar plant in Japan
Paris, June 5, 2020 – Total Solar International, a wholly owned subsidiary of Total S.A., has entered into an agreement with Tohoku Electric Power Co., Inc, to sell a 45% stake out of its 90% interest in Miyagi Osato Solar Park, a 52 megawatt-peak (MWp) solar power plant located in Osato, Miyagi prefecture, Japan.
The project began construction in 2019 and is expected to start up in 2021. It will provide clean and reliable electricity to approximately 15,600 households.
“We are happy to welcome Tohoku Electric that will strengthen the project with its knowledge and expertise as the regional power grid operator. With this transaction, we are forging a new partnership paving the way for future collaborations in the renewable energy sector in Japan where Total is actively pursuing its development”, said Julien Pouget, Senior Vice-President Renewables at Total. “The entry of a strong regional partner into our Osato project during the construction phase is in line with our capital light renewables development business model.”
The plant is operated by Miyagi Osato Solar Park G.K., a special purpose company owned by Total Solar International (45%) alongside Tohoku Electric (45%) and SB Energy Corp. (10%), a Japanese subsidiary of SoftBank Group.
Total is a broad energy Group that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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