GE Energy Financial Services are investing in a 32MW solar power farm, known as Kumenan, in Okayama, Japan using Yingli solar panels. This is part of GE’s plan to invest more the US $1 billion annually in renewable energy projects.

The project is financed by $107 million loan from The Bank of Tokyo-Mitsubishi and The Chugoku Bank. GE is also said to invest an undisclosed amount into the project but no other details have been disclosed thus far. After the Fukushima incident, Japan is trying to diversify its energy sources.

Kumenan has already started construction and is expected to start generating electricity in the first quarter of 2016. Once approved, the solar farm will be exporting energy to the regional utility on a 20 year power purchase agreement. The system is going to use Yingli solar panels.

Management and operational services will be provided by Pacifico Energy, a subsidiary of Virginia Solar Group. Toyo Engineering Corporation will do the constructions while Yingli Green Energy provides the solar panels.