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  "domain": "structured-finance",
  "title": "Project finance SPV for renewables in Japan — solar, wind, geothermal",
  "entry_type": "wiki_entry",
  "frontmatter": {
    "title": "Project finance SPV for renewables in Japan — solar, wind, geothermal",
    "aliases": [
      "Japan renewable project finance",
      "Japan solar SPV",
      "Japan offshore wind project finance",
      "Japan geothermal project finance",
      "FIT-era SPV structure",
      "PPA tenor Japan renewables",
      "structured-finance/project-finance-spv-japan-renewable"
    ],
    "domain": "structured-finance",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-05-25",
    "last_tended": "2026-05-25",
    "review_by": "2026-11-25",
    "confidence": "likely",
    "tags": [
      "structured-finance",
      "project-finance",
      "renewable",
      "solar",
      "wind",
      "geothermal",
      "fit",
      "ppa",
      "japan"
    ],
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    "note": null,
    "sources": [
      "METI FIT / FIP scheme disclosures — https://www.meti.go.jp/english/",
      "JBIC project finance disclosures — https://www.jbic.go.jp/en/",
      "DBJ disclosures — https://www.dbj.jp/en/",
      "Megabank IR (project-finance loan disclosures)",
      "Sogo shosha IR — renewable equity disclosures"
    ]
  },
  "summary": "Japanese renewable-energy projects — solar (utility-scale PV), onshore and offshore wind, geothermal, and biomass — are typically financed through limited-recourse TK / GK SPV structures with equity from sōgō shōsha consortia, debt from a megabank-led syndicate often joined by regional banks, and re",
  "headings": [
    "Project finance SPV for renewables in Japan — solar, wind, geothermal",
    "TL;DR",
    "Wiki route",
    "1. The FIT era (2012–2022) — context",
    "2. Typical FIT-era utility-scale solar SPV structure",
    "3. Wind onshore — structure",
    "4. Offshore wind — the new centre of gravity",
    "5. Geothermal — small but strategically supported",
    "6. The 2022 FIT → FIP transition",
    "7. Refinancing cycle"
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