Financial Close
On June 22, 2018, RENOVA reached financial close for this project. It had made preparations for this project together with other sponsors, namely Sumitomo Forestry Co., Ltd., Veolia Japan K.K., Kyuden Mirai Energy Co., Inc., and Mihara Group K.K.
With Sumitomo Mitsui Banking Corporation as lead manager, the project finance syndicate has participation of two local businesses, namely the Bank of Fukuoka, Ltd. and Fukuoka-Hibiki Shinkin Bank, as well as the Bank of Saga Ltd., the Daishi Bank, Ltd. and the Chugoku Bank, Ltd., the Dai-ichi Life Insurance Co., Ltd., Daido Life Insurance Company, Nippon Life Insurance Company and Meiji Yasuda Life Insurance Company. As mezzanine lenders, JA Mitsui Leasing, Ltd. and Sumitomo Mitsui Finance and Leasing Co., Ltd. provide subordinated loans.