A Marubeni-led consortium has reached financial close on two offshore wind farms totalling 140MW in Japanese waters.

The Akita Offshore Wind Corporation, which includes Obayashi and Kansai Electric Power, signed loan agreements on Monday.

Multiple domestic and foreign financial institutions were part of the financing with MUFG Bank, Mizuho Bank and Sumitomo Mitsui Banking Corporation jointly acting as the joint mandated lead arrangers.

Construction of the projects, located off Akita and Noshiro ports in the Akita Prefecture, will enter construction shortly.

Work will start this month with the onshore substations and transmission lines while commercial operations are pegged for 2020.

Noshiro Port will the the operations and maintenance base.

Marubeni said the wind farms will be the first large-scale ones build in Japan “on a commercial basis”.