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Obton Join Hands With GSSG Solar to Acquire 117 MW of Japanese Solar Projects

As per the firm, among these, eight projects are operational (104 MW) and one is under development (13 MW). The operational projects were commissioned between 2017 and 2022.

July 08, 2024. By News Bureau

The Denmark-based firm Obton A/S has announced its first joint venture with Denver’s GSSG Solar, LLC and its affiliates, acquiring nine Japanese solar projects totaling 117 MW.

As per the firm, among these, eight projects are operational (104 MW) and one is under development (13 MW). The operational projects were commissioned between 2017 and 2022.

The said project is expected to generate sufficient electricity to power over 30,000 Japanese households and is estimated to reduce global carbon emissions by over 58,000 tonnes annually. It may be noted that as per part of Japan's Feed-in Tariff program introduced in 2012, these projects will provide electricity across seven prefectures.

Further, as per the firm, this partnership will strengthen the relationship between Obton and GSSG. As per reports, Obton previously acquired GSSG’s largest solar asset (82 MW) in Fukushima, Japan.

Dwelling on the project, Mikkel Berthelsen, Chief Acquisition Officer of Obton, said, “We are thrilled to partner with GSSG Solar on this project, marking a significant milestone in our efforts to expand our renewable energy portfolio in Japan. This collaboration underscores our commitment to sustainable energy and highlights the strength of our partnership with GSSG. We are excited about taking our collaboration further in the future.”

Charlie McDaniel, Partner and Head of Origination at GSSG Solar, LLC, stated, “GSSG prides itself on deepening existing relationships with respected partners. We have enjoyed the partnership with Obton and look forward to continuing our relationship with them on additional projects in the future.”

Yoshiyasu Sumi, Partner and Country Manager of GSSG Solar Japan Inc. added, “We look forward to adding these projects to our existing robust Asset Management Platform, where we have a long track record of adding value to operating projects.”

With this acquisition, the firms aim to enhance their contribution to sustainable energy and reduce global carbon emissions, further strengthening their relationship and setting the stage for future collaborations.

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Japanese Solar Projects