Real Assets is acquiring solar project development and services platforms in Japan from First Solar.
First Solar said has agreed to sell its 293MW utility-scale solar project development platform, and a solar operations and maintenance platform with approximately 665MW under management.
The latest deal follows PAG鈥檚 last year鈥檚 acquisition of two projects under development by First Solar in Japan with a total capacity of 50MW.
Following the completion of the latest acquisition, PAG is expected to add First Solar鈥檚 project development platform to its existing portfolio of solar farms in Japan, creating one of Japan鈥檚 largest renewable operators with over 600MW of capacity.
Jon-Paul Toppino, executive director and president of PAG, said the latest transaction further positions PAG as a leading player in renewable energy in Japan and will serve as a 鈥渒ey building block for our future investment in the sector鈥�.
鈥淧AG鈥檚 commitments to integrity, transparency and sustainability, and its experience managing and operating a wide range of assets, make it the ideal acquirer of our industry-leading platforms in Japan,鈥� Toppino said.
Mark Widmar, chief executive officer, of First Solar, said: 鈥淭he sale of these platforms marks the completion of First Solar鈥檚 strategic shift to focus on developing, scaling, and selling our advanced module technology.鈥�
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