Photon Taiwan Fund invests in 120MW Solar Power Plant in Taiwan, generated green energy to be purchased and used by a semiconductor manufacturer
  • Renewable Energy
  • Order received / delivery

September 13, 2023

Photon Group
JA Mitsui Leasing, Ltd.
Toshiba Energy Systems & Solutions Corporation
Fuyo General Lease Co., Ltd.
Ark Solar Energy Co., Ltd.

For further information about the related business

Photon Group [1] (Photon) has established Photon Taiwan Fund [2], in which JA Mitsui Leasing Ltd. (JAML), Toshiba Energy Systems & Solutions Corporation (Toshiba ESS), and Fuyo General Lease Co., Ltd. (Fuyo Lease) have invested. Together with local Taiwanese company, Ark Solar Energy Co., Ltd. (Ark) [3], Photon Taiwan Fund has entered a cooperation agreement with Ark to establish a SPV to construct and own a Solar Fishery Symbiosis project [4]. Photon, with cooperation with Ark, is set to own a 120 MW solar power plant in Tainan, Taiwan and supply green electricity from renewable energy sources through an off-site Corporate Power Purchase Agreement (CPPA) to a semiconductor manufacturer. The Solar Fishery Symbiosis project started construction from August this year and is scheduled to supply renewable energy at the end of 2024.

Furthermore, Photon and Ark have plans to construct and supply an additional 360 MW project bringing the total supply capacity of renewable energy to 480 MW.

Photon has been actively developing and investing in solar power projects both domestically and internationally; prioritizing harmony with the surrounding environment and ensuring long-term safety and stability. Photon intends to continue to strive to become a leading company in non-feed-in tariff (non-FIT) solar power projects, developing, owning, and operating solar power plants domestically and internationally to contribute to achieving a sustainable society.

JAML in its medium-term management plan "Real Change 2025," is focusing on addressing the challenges of a borderless society and expanding its business in the renewable energy sector. As a key initiative in sustainable management of business, the company is committed to promoting the widespread adoption of renewable energy and accelerating the transition towards decarbonization, both domestically and internationally. Under the group's management philosophy of "Real Challenge, Real Change," the aim is to achieve a "better society and future." JAML will continue its efforts to the achievement of a sustainable and prosperous society.

Toshiba ESS is engaged in the Engineering Procurement Construction (EPC) business of solar power plants and the operation of solar and wind power plants in Japan. Toshiba ESS decided to invest in Photon Taiwan Fund, L.P. in February 2021. With this investment opportunity, Toshiba ESS will actively pursue the development of renewable energy and Virtual Power Plant (VPP) projects in Asian regions including Taiwan. With extensive knowledge, expertise, technology, and IoT, Toshiba ESS provides infrastructure services that enhance the value and efficiency of existing infrastructure systems, contributing to the realization of sustainable societies both domestically and internationally.

Under our new medium-term management plan, Fuyo Shared Value 2026, which began in fiscal 2022, the Fuyo Lease Group aims to achieve sustainable growth as a corporate group by simultaneously solving social issues and creating economic value through the practice of shared value (CSV).
In addition, we have positioned the "Energy and Environment" business field as one of the growth drivers for intensive investment of management resources, and are actively participating in renewable energy projects both in Japan and also overseas.
By leveraging the knowledge gained from their involvement in renewable energy projects both domestically and internationally, we will expand our business domain and contribute to the achievement of a decarbonized society.


1. Photon Group:
Photon Asset Management Ltd.,
Photon Japan LLC,
Photon Capital LLC,
JE Capital Partners II Ltd

2. Photon Taiwan Fund:
Fund operated by Photon Group, and Limited Partner investors are JA Mitsui Leasing Ltd., Toshiba Energy Systems & Solutions Corporation, and Fuyo General Lease Co., Ltd. The fund uniquely focuses investing in solar power projects in Taiwan.

3. Ark Solar Energy Co., Ltd.:
Taiwan based development/EPC company. Main operations include development, construction, power retail, and fisheries management in Taiwan. Ark Aquaculture Co., Ltd., was established to service the future fisheries business.

4. Solar and Fishery Symbiosis:
Due to limited lands in Taiwan, promoting multiple use on a piece of land is necessary. As one of the solutions, Solar and Fishery Symbiosis was introduced. The idea is to stimulate the local economy with fish farming and provide green energy to Taiwan simultaneously. The photovoltaic system will be installed on the rooftop of the fishery infrastructure while the fishery business will be managed by Ark Aquaculture Co., Ltd.



Photon Taiwan Fund, L.P.


January, 2021


PV Farms in Taiwan


USD$ 40,000,000

For furthermore information about Our Renewable Energy Business, please check here.
For furthermore information about Our News Release "Investing in the Taiwan PV Plant Fund" on February 9 2021, please check here.

Information in the News Release, including product prices and specifications, content of services and contact information, is current on the date of the News Release , but is subject to change without prior notice.

  • News ReleaseNews Release
Related article
Toshiba to Start LED Lantern Sharing Service Trial in Republic of Vanuatu
FY2023 Renewable energy aggregation demonstration project has been adopted
PAG Renewables announces commercial operations of 309MW of mega-solar projects across Japan in close partnership with Toshiba.
Toshiba to Promote Technology Development for Large Floating Offshore Wind Farms for Advanced Wind Power Generation
Toshiba Completes Corporate Venture Capital Investment in Türkiye and UK based Startup "Smartpulse"
Long-term Contract Signed for Renewable Energy Aggregation Services for Bundled Small-Scale Distributed Solar Power Plants
Promoting Advanced System Control Using FH2R for Practical Application of Power-to-Gas
Toshiba Group's Kawasaki Head Office Virtual Power Purchase Agreement will Achieve 100% Virtual Supply of Renewable Energy
Toshiba and TNK to Improve the Accuracy of Forecasting the Amount of Renewable Energy Generation and Achieve Approximately 70% Reduction of Imbalance Amount by Utilizing Storage Batteries
Toshiba to Invest in UK Startup "Piclo"
Completion of FIP switchover at Yatsushiro Mega Solar Power Plant(Next Kraftweke Toshiba Corporation)
Commencement of FY2022 Renewable Energy Aggregation Demonstration Experiment
Largest Geothermal Energy Producer in the Philippines Orders Geoportable™ Geothermal Power Generation System
Toshiba ESS Releases Panels of "CIGRE 2022 Technical Exhibition" and related Movies
Toshiba and KenGen Conclude Memorandum of Understanding on O&M Services for Geothermal Power Plants
Contract Concluded for IoT Services Using EtaPRO™ for an Indonesian Geothermal Power Plant
CIGRE 2022 Technical Exhibition
FY2022 Renewable energy aggregation demonstration project has been adopted
Toshiba to Conclude a Renewable Energy Aggregation Service Agreement for a Solar Power Plant in Kagoshima Prefecture First contract of the business of renewable energy aggregation service
Launch of Renewable Energy Aggregation Service Support Service for Renewable Energy Generation Businesses Balancing and Transaction Operations
Toshiba to Win Turbine Supply Contract for Onshore Wind Power in Abukuma, Fukushima
Toshiba to Reorganize for Enhancement of Energy Aggregation Businesses
Completion of Renewable Energy Aggregation Demonstration in FY2021
Offshore Wind Power O&M Advancement Project Adopted as NEDO Green Innovation Fund Project for Reducing the Cost of Offshore Wind Power Generation
Common Elemental Technology Development Project adopted as NEDO Green Innovation Fund Project for Reducing the Cost of Offshore Wind Power Generation
Commencement of Renewable Energy Aggregation Demonstration Experiment
Toshiba Group to Showcase Decarbonization Technologies at COP26 Virtual Japan Pavilion
Toshiba to release an advertorial related to carbon neutral collaborated with Reuters
Toshiba Completes Acquisition of GP Strategies' EtaPRO® Business
Toshiba to Supply Hydro Turbines for Kerinci Merangin Hydro Electric Power Plant in Indonesia
Adopted for the Ministry of the Environment "FY2021 Project to Promote the Creation of Circular Carbon Society Model through CO₂ Recycling"
Renewable energy aggregation demonstration project has been adopted
GE Renewable Energy and Toshiba Announce Strategic Partnership Agreement on Offshore Wind in Japan
Toshiba Energy Systems & Solutions Corporation and GP Strategies Corporation Reach Agreement on Asset Purchase to Acquire EtaPRO® Business
Joint Research Agreement on Offshore Wind Power
Promotion to Construct Hydrogen Supply Chain in Tsuruga City
Toshiba to Supply Turbines and Generators for Hubei Xinji Hydropower Plant in China
Toshiba to Supply Turbines and Generators for Ning Hai Pumped-Storage Power Plant in China
Investing in the Taiwan PV Plant Fund
Toshiba to Launch Subscription Service "Toshiba VPP as a Service"
Six Companies to Start Studying Carbon Recycling Business Models
Toshiba Opens First H2One™ Multi Station in Tsuruga City, Fukui Prefecture
Toshiba and Next Kraftwerke Sign Agreement to Establish Joint Venture
Toshiba Group Promotes Hydropower Business Integration
First Solar Japan and Toshiba start construction of two Mega Solar Projects "Yatsubo Solar Power Plant and Ikeda Solar Power Plant" in Tochigi Prefecture
Start of Project to Verify Open Platform Aggregation Business
Toshiba and Cenergy to Construct New Geothermal Power Plant in Nakao, Okuhida-Onsengo, Gifu Prefecture, Japan
Toshiba Wins Order for Power Generation Equipment for Myanmar's Sedawgyi Hydropower Plant Rehabilitation Project
Toshiba and TSE signed the Construction Agreement for Mega Solar Project "Onikoube Solar Power Plant" in Miyagi Prefecture
Toshiba Wins Order in Ethiopia for Small Scale Geothermal Power Generation System for Wellhead
Technical Verification Project on Battery Sharing in Miyakojima City
Toshiba and Next Kraftwerke Sign Memorandum of Understanding on Business Alliance for Virtual Power Plant (VPP) Service
Toshiba to Start Construction of New Biomass Power Plant in Fukuoka
Demonstration Project Starts in Indonesia on the Use of Anomaly Predictive Diagnostics for Geothermal Power Plants
Toshiba Wins Contract to Supply "Geoportable™"for Dieng Small Scale Geothermal Power Plant in Indonesia
Toshiba Group Wins Order to Supply Power Generation Equipment for 140 MW Tanahu Hydropower Plant in Nepal
Toshiba Wins "Best/Most Efficient Main Equipment Award" for Geothermal in the Renewable Energy Power Plants Category at Turkey's ICCI Energy Awards
Toshiba to Exhibit Technologies and Products at "G20 Innovation Exhibition for Earth, Society and the Future"
Wasabizawa Geothermal Power Plant for which Toshiba Energy Systems & Solutions Constructed Power Generation System Goes into Operation
Joint Research Agreement for P2P Energy Trading Between Individuals Using Distributed Energy Resources
J-Power and Toshiba ESS to Monitor Water Intake Levels through the Use of Low-Power, Wide-Area Wireless Technology
Updated movie about Digital Transformation
Solar Power Plant Completed in Minamisoma City's Haramachi-higashi District
Toshiba group Publishes "Toshiba Review Vol 74 No.1"
Toshiba to Supply Micro Grid Energy Management System to Republic of Maldives under the Preparing Outer Islands for Sustainable Energy Development Project
Toshiba to Sign Collaboration Agreement with Omuta City, for Constructing New Biomass Power Plant
Toshiba to Start Integrated Control Service for Storage Batteries with IoT Technology
Sales Cooperation of Wind Power Generation Business with Senvion
POWERCHINA and Toshiba Strengthen Strategic Cooperation in Hydro, Geothermal and Thermal Power Systems
Toshiba to Participate in Vietnam's International Renewable Energy & Energy Efficiency Exhibition 2018
Research on the Use of IoT and AI Technology to Improve Capacity Factor of Geothermal Power Plants
Toshiba and RentCo sign a Cooperation Agreement to Expand Geothermal Power Generation Business
Toshiba's Energy Solutions to Contribute to a Low-Carbon Society in Africa
Toshiba and VINCI Construction Conclude Memorandum of Understanding in Hydro Power and Geothermal Power Plant Development
Toshiba and Malawi's Ministry of Natural Resources, Energy and Mining Conclude a Memorandum of Understanding on Geothermal Power Generation Business
Toshiba to Boost Energy Aggregation Business
Toshiba Wins Order for 6MW Solar Panels in Thailand
Toshiba Concludes Package Deal Agreement on Geothermal Power Generation Projects with Turkey's Zorlu Energy Group
Vietnam's Trung Son Hydro Power Station Units 1 to 4 Start Operation with Toshiba Hydro Turbines and Generators
Full-Scale Operations Begin for Showcase Project to Supply Wind Power-Generated, Low-Carbon Hydrogen to Fuel Cell Forklifts



Toshiba Corporation published this content on 13 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2023 05:31:09 UTC.