Macquarie’s New Solar Development Platform In Japan

• Hinode Energy has come up in Japan as a new solar development platform
• It has been established as a joint venture between Blueleaf Energy and Univergy International
• Initially, Hinode Energy will develop large scale solar project portfolio of 200 MW

With an initial mandate to develop over a 200 MW solar power portfolio, a new solar development platform has been announced for the Japanese market. The new entity Hinode Energy is a joint venture between Spanish-Japanese company Univergy International, and Blueleaf Energy.

Previously known as Conergy, Bluleaf Energy is a portfolio company of Macquarie's Green Investment Group (GIG) (see Singapore's Conergy Now Blueleaf Energy).

Blueleaf Energy's Interim CEO Sol Proops said Hinode Energy brings together local insight and development experience with engineering expertise and financial capability to help drive Japan's green energy transition.

Hinode Energy (in which Hinode means sunrise in Japanese language, according to Google) is headquartered in Tokyo and will develop and deliver large scale solar projects in the country. Its parent companies believe Japan offers significant opportunities as a solar energy growth market since it wants to become a net zero GHG emitter and go carbon neutral by 2050 (see Japan Pledges Carbon Neutral Target By 2050).

"Solar already accounts for 87% of Japan's total renewable energy capacity, but if we're to achieve net zero, we need to further accelerate the deployment of this critical technology," said Hinode Energy's CEO Jose Antonio Millan. "It's an extremely exciting time for Hinode and Japan's growing renewable energy industry."

Millan was till recently the Chief Global Development Officer for Univergy Solar, according to his LinkedIn bio.