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Aquila Capital Secures $21 Million from Ashikaga Bank for Japan Solar Project

Investment management company Aquila Capital has secured a 3 billion yen ($21.5 million) loan from Japan’s Ashikaga Bank for a solar power project in Japan’s Chiba prefecture, the company said in a statement on Wednesday.

As Japan targets to have 36%-38% of its electricity from renewable sources by the end of this decade, part of its goal to be carbon neutral by 2050, companies are actively expanding in areas from wind and solar power to battery storage.

Hamburg-based Aquila Capital manages nearly 14 gigawatts of wind and solar energy and hydropower assets globally. Its 7.9 megawatt-peak Kimitsu solar plant would start commercial operations in the third quarter of 2023, it said on Wednesday.

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