Press Release

Grasshopper Announces USD $10 Million Investment in 4-MW Solar Portfolio in Japan

Grasshopper Solar, Canada’s largest vertically integrated solar energy company, announces a USD $10 million investment in six solar power plants from Univergy Solar in Japan. These six ground mount projects, ranging from 439kW to 971kW totaling 4 MW, will utilize 12,500 solar panels, generate 4,544 MWh of clean energy and deliver 3,283 tons of carbon emissions abatement annually.

This portfolio will be developed by Univergy along with its Japanese partners, with construction commencing in Q4 2018 and expected to achieve commercial operation by Q4 of 2019. These projects, once completed, will participate in the country’s Feed-in Tariff program with a 20-year contract ranging JPY ¥21-24/kWh awarded by METI (Ministry of Economy, Trade and Industry).

“This investment exemplifies Grasshopper’s commitment to working closely with our partners on projects of all sizes. We hope to set more benchmarks for the renewable energy market in Japan with our global solar expertise, financial flexibility and transactional speed,” said Jonathan Persaud, Chief Development Officer, Grasshopper Solar.