S-Energy Signs Full-Scale Repowering Contract for Japanese Solar Projects, Accelerates Entry into Japanese Market

by Jang Hyowon

Published 15 Apr.2026 13:42(KST)

S-Energy Signs Full-Scale Repowering Contract for Japanese Solar Projects, Accelerates Entry into Japanese Market

S-Energy is accelerating the expansion of its local business in the Japanese renewable energy market by consecutively securing repowering contracts. Following the signing of a memorandum of understanding (MOU) with Japanese asset management company EF Investment, the company has achieved tangible results in a short period, marking the start of its full-fledged entry into the market.

S-Energy Japan, the Japanese subsidiary, signed a repowering construction contract with Joint Company Raise FIT Solar No.1 in February. The contract is valued at 125 million yen. Construction is scheduled to begin on May 7 and is targeted for completion by July 15, with power sales to resume thereafter. S-Energy’s solar modules will be used in this project.

In addition, the company is pursuing a large-scale repowering project for an extra-high voltage power plant located in Hiroshima Prefecture. This project involves replacing aging modules at a power plant with a direct current capacity of 33,020.8 kW, with the total construction cost capped at 1.698 billion yen. The project is structured in connection with a share purchase agreement (SPA) for the power plant.

The company commented, “These consecutive orders demonstrate our competitiveness in the Japanese repowering market,” and added, “We are establishing a stable foundation for sales growth based on collaboration with local partners.”

The overall management of this project is handled by Kamei Co., Ltd. of Japan, while S-Energy participates as both a party to the share transaction and as a partner. Including the supply of its own solar modules, S-Energy Japan expects to generate approximately 800 million yen in sales from this project.

This achievement is also significant as it is a direct result of the prior MOU signed with EF Investment. At the time, S-Energy secured exclusive rights over 10 projects nationwide in Japan, totaling around 20 MW, for a period of six months and successfully achieved the goal of signing EPC contracts for the prioritized projects within three months.

S-Energy is enhancing its competitiveness in the local market by promoting a repowering model that maximizes the use of existing plant structures while increasing power generation efficiency. This approach is recognized as being effective in improving profitability for plant owners.

A company representative stated, “Based on the secured 20 MW pipeline, we plan to expand our repowering business in Japan to over 30 MW by 2026,” and added, “We will continue to strengthen our position in the Japanese market by consistently securing new projects.”