Japan turns to solar
Kyocera, IHI and Mizuho Corporate Bank have reached a basic agreement to construct a 70MW solar power plant in southern Japan and to explore a business model for utility-scale solar power.
The mega solar plant is being built to help solve Japan's power supply issues caused by the effects of the Great East Japan Earthquake, and to make a contribution to environmental protection, including the reduction of CO2 emissions.
Expectations and interest in solar energy have heightened to a new level in Japan with the planned July start of a revamped feed-in tariff (FIT) program and the need to resolve power supply issues caused by the effects of the earthquake.
The plant will be built in Kagoshima City. Under the agreement, Kyocera will be responsible for the supply of the solar modules and part of the construction and maintenance of the system; IHI will lease the land and participate in the operation of the project; and Mizuho will devise a financing plan for the project.
The planned site of the solar power plant is approximately 314 acres of land owned by IHI. The total project cost is estimated at approximately 25 billion yen (£188m) and construction will start in July.
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This article was published on 11/04/2012 (last updated on 11/04/2012).