Pacifico Energy K.K. has achieved financial closure for the Banshu solar power project in Hyogo Prefecture, marking its 14th development and reinforcing the company's commitment to advancing renewable energy in Japan.

Information on the Target

Pacifico Energy K.K., headquartered in Minato, Tokyo, with Hiroki Matsuo serving as the Representative Director, has successfully achieved financial closure for the Banshu solar power project. This project represents the company's 14th in-house development venture and marks its third initiative in Hyogo Prefecture. The Banshu solar power plant will utilize an electricity selling rate of 15.37 yen per kilowatt hour, making it the lowest rate established to date, effectively reaching parity with the retail electricity price for commercial use. This milestone reflects Pacifico Energy's commitment to advancing renewable energy and achieving grid parity in Japan.

Since the project's inception in 2018, Pacifico Energy faced significant challenges due to initial cost barriers that questioned its economic viability. Executing this project required considerable courage as the stakeholders understood the potential risk that investments may not yield returns. Over the past two years, the firm's efforts in enhancing planning, procurement, and construction methods have led to a feasible operational status for the business moving forward.

Industry Overview in Japan

The renewable energy sector in Japan is experiencing dynamic growth, driven by the government's initiatives to increase the share of renewables in the national energy mix. Following the Fukushima nuclear disaster in 2011, Japan sh