Kaihan subsidiary expands solar portfolio, revises joint venture timeline

Kaihan Co. announced on September 16, 2025, that its consolidated subsidiary, KR Energy 1 G.K., will acquire fixed assets comprising 13 solar power generation facilities for a total of JPY205 million. These acquisitions are part of an initiative to develop 330 Non-FIT low-voltage solar power plants in Japan totaling 31.350MW-DC/16.335MW-AC by the end of December 2025, under long-term power purchase agreements with a global IT company. The newly acquired facilities, representing 1.248MW-DC/0.644MW-AC, are expected to commence operations sequentially from December 2025 to January 2026. This expansion is expected to contribute JPY4 million in sales to the 2026 March fiscal year from these new facilities, in addition to JPY69 million from existing solar power plants.

KR Energy 1 G.K. currently has 211 properties either acquired or under comprehensive contract, totaling 20.152MW-DC/10.445MW-AC, with 130 already operational. The latest acquisition increases the total acquired or contracted properties to 224, with total output capacity reaching 11,088 ACkW and expected annual power generation of 25,709,304 kWh. The construction of these facilities will be undertaken by Shinwa Home Maintenance Co., Ltd.

In a related development, Kaihan Co. disclosed a change in its basic agreement with GreenRock Energy Co., Ltd. for a renewable energy joint venture. The establishment of the joint special purpose company (JV SPC), now named Rock Kaihan, has been rescheduled to October 1, 2025. Kaihan’s investment will be 40%, with GreenRock holding 60%, meaning the JV SPC will not be a consolidated subsidiary. This JV SPC aims to secure power supply agreements for data centers in Japan operated by a global semiconductor manufacturer.