LPA Tokyo advised Ciel & Terre in the sale of 18.6 MWp floating solar portfolio in Japan

LPA Tokyo advised Ciel & Terre in the sale of 18.6 MWp floating solar portfolio in Japan

LPA Tokyo advised Ciel & Terre, a French pioneer in floating solar power, in the sale of 18.6 MWp floating solar portfolio in Japan to Shizen Energy, a global renewable energy developer, and SMFL MIRAI Partners, a leading company in the real estate business and environmental and energy business fields.

The portfolio consists of 12 operational floating solar assets under Feed-in-Tariff located across six prefectures in Japan.

Ciel & Terre has been specializing in deploying floating solar power plants, from design to distribution and installation, since 2011. This transaction represents another milestone for the company that installed its first floating solar plant in Japan in 2013 representing the world’s first MWp-scale floating solar project. Today, Ciel & Terre has managed a portfolio of 220 MWp with 136 solar plants in operation in Japan.

Shizen Energy was established in June 2011, with the purpose of “We take action for the blue planet”. The company’s business includes the development, financing, and asset management of renewable energy power plants using solar power, wind power, small hydro, and biomass. Since 2016, the company has also focused on its overseas operations, expanding its development and power generation projects in areas such as Southeast Asia and Brazil. The company also entered the energy tech business, offering microgrid and VPP construction, smart charging and discharging services for electric vehicles, and other services through its self-developed EMS (energy management system). The company has been involved in more than 1GW of renewable energy generation in Japan and overseas.

SMFL MIRAI Partners, a strategic subsidiary of Sumitomo Mitsui Finance and Leasing Co., Ltd., operates as a real business company with financial functions, engaging in renewable energy projects. As of the end of October 2024, it holds a solar power generation portfolio of 867 MW. The company is committed to focusing on the sustainable supply of clean energy.

With this acquisition, Shizen Energy and SMFL MIRAI Partners aim to accelerate their development and investment activities in Japan, leveraging innovative floating solar technology, to expand their expertise and drive progress both in Japan and globally.

The LPA Tokyo team, led by Lionel Vincent (partner) and Pascal Mages (partner), supported Ciel & Terre throughout the acquisition process until its successful finalization.