Solar Frontier announced today that it will sell its 2MW Kunitomi Megasolar power plant in Miyazaki, Japan, to a trust account managed by Mitsubishi UFJ Trust and Banking Corporation. The agreement was signed on February 24, 2015, and will include the transfer of all related facilities, contractual positions, rights, and obligations.
Following this transaction, Solar Frontier will continue to be involved in the operation of Kunitomi Megasolar as the project's O&M provider. The agreement reflects MUTB's high regard for Solar Frontier's O&M capabilities, as well as the high economic viability of Kunitomi Megasolar, based on the higher real-world output of CIS thin-film modules.
Solar Frontier will utilize the know-how it has gained by developing and operating the Kunitomi Megasolar power plant as it continues to advance its megasolar business through projects in Japan and overseas.