Equis eyes Japan solar buildup amid potential asset sale

The Singapore-based firm is expanding its portfolio in the country while undertaking a ‘strategic review’ of its 4.7GW portfolio of operational projects across Asia.

Equis Energy has contracted France’s Bouygues Energies and Japan’s Toho Electrical to build a 13.7MW solar project in Japan's Aomori Prefecture. 

The engineering, procurement and construction agreements will see the project, located in Noheji, complete construction works started last month and begin operations in November this year.

In Japan, Equis owns 40 projects with a combined capacity of 900MW and has a further 1.3 GW under development. Last week, the Singapore-based renewables firm commissioned a 5.7MW solar facility in Kamikita city, in the same prefecture. 

“Equis believes there are tremendous opportunities for growth in the Japanese solar market and we look forward to continuing to expand our partnership with Bouygues Energies & Services across both Japan and the Asia region,” said Adam Ballin, Equis’ board director. 

Equis and Bouygues Energies have worked together before on building four other solar facilities in Southeast Asia, including the region’s largest solar project – a 132.5MW solar farm in the Philippines – as well as three projects in Thailand in 2014. 

As the firm continues to expand its portfolio, it also appointed Credit Suisse and JPMorgan as financial advisors and global coordinators last month to help it assess options for its 4.7GW renewable energy portfolio by undertaking a “strategic review” of 102 assets it owns. In addition to this pool of projects, Equis said it has a further 71 assets and 6.3GW under development.