Advised the subsidiaries of Canadian Solar Inc. on the disposal of its Japan flagship mega-project, the 100MWp Azuma Kofuji solar project
The corporate and financial services practice group of Harry Elias Partnership advised the subsidiaries of Canadian Solar Inc. (“Canadian Solar”) on the disposal of its Japan flagship mega-project, the 100MWp Azuma Kofuji solar project located in Fukushima, Japan to Japanese investors arranged by Mizuho Securities Co Ltd (Mizuho Fund). The seed asset was originally acquired in 2021 and started commercial operations in the third quarter of 2022. The project is Canadian Solar’s largest project in Japan and Fukushima prefecture’s largest operational solar project to date.
Canadian Solar’s local subsidiary will continue to provide long term operations and maintenance services for the plant after the transaction. The transaction forms part of the investment objective of the relevant Canadian Solar subsidiaries to develop, build and transact solar projects in Japan, and to grow its O&M services.