While Japan tries to figure out whether or not it wants to fire up its nuclear reactors again, the solar industry continue to expand in the land of the rising sun.
Kyocera Corp, heavy machinery maker IHI Corp and Mizuho Corporate Bank are now teaming up to build Japan’s largest solar project at a cost of $307 million. This 70-megawatt (MW) plant will have the capacity to pump out 79,000-megawatt hours of electricity, or enough to power 22,000 households.
A special-purpose company (SPC) is being set up to build and operate this solar plant, and construction will begin in July in Kagoshima, a city on the southern island Kyushu. Kyushu Electric Power Co. is expected to be the principal buyer the plant’s electricity.
While the launch date is early July, a start date for commercial operation will come when the government sets prices for a subsidy scheme.
Solar capacity has steadily risen in Japan over the past few years. While Japan’s solar capacity has surpassed 3,500 MW, it still only meets about 1% of the nation’s power demand.
70 Megawatts of Solar Coming to Japan originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.