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70 MW Photovoltaic Solar Energy Plant in Japan

70 MW Photovoltaic Solar Energy Plant in Japan                               april 11, 2012

The "mega-solar power plant" is being built to help solve Japan's power supply issues caused by the effects of the Great East Japan Earthquake.

Kyocera Corporation (herein "Kyocera"), IHI Corporation (herein "IHI") and Mizuho Corporate Bank, Ltd. (herein "Mizuho CB") announced that the three companies have reached a basic agreement to construct a 70-megawatt (MW) solar power plant in southern Japan and to further explore a business model for utility-scale solar power generation. The "mega-solar power 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.

To be built in Kagoshima City (Kagoshima Prefecture), the solar power project is being undertaken by combining the strengths of the three companies: Kyocera utilizing its more than 35 years of experience in the solar business; IHI implementing its proactive stance on promoting the increased use of renewable energy; and Mizuho CB applying its wide-ranging finance knowledge.

Expectations and interest in solar energy have heightened to a new level in Japan with the planned July 1 start of a revamped feed-in tariff (FIT) program and the need to resolve power supply issues caused by the effects of the Great East Japan Earthquake. Solar Power Project Overview

Project name: Kagoshima Nanatsujima Mega-Solar Power Plant (tentative name)

Participating companies: Kyocera Corporation; IHI Corporation; Mizuho Corporate Bank, Ltd.
Planned support from KDDI Corporation; Kyudenko Corporation; Kagoshima Bank, Ltd.; Takenaka Corporation

Power output: 70MW (largest in Japan, as of April 9, 2012; based on officially announced projects)

Location: 2 Nanatsujima, Kagoshima City, Kagoshima Prefecture, Japan
Area: 1,270,000m2

Total investment: Approx. 25 billion yen

Project timeline: June 2012: Establishment of special-purpose company
July 2012: Start of construction

Note: Project details may change depending on the final purchasing price and conditions of the aforementioned Bill.

 
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