First Solar secures loan for utility-scale solar projects in Japan

First Solar Inc of Tempe, AZ, USA, which makes thin-film photovoltaic modules based on cadmium telluride (CdTe) as well as providing engineering, procurement & construction (EPC) services, has announced that it has signed a syndicated development loan facility agreement for approximately 7 billion yen (US$64 million) with Mizuho Bank Ltd for its utility-scale solar project pipeline in Japan using First Solar modules. This financing represents the first syndicated solar project development loan facility arranged and participated in by Mizuho Bank, and it is the third loan facility First Solar has secured with Mizuho Bank.

First Solar provides energy solutions that support Japan’s renewable energy target of 7 percent solar by 2030.