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Japan : SUMITOMO to build a 59.9MW Solar Park in MINAMISOMA with US$ 201m investment
Publish Date : 26-May-2016
Sumitomo Corp, a leading diversified company of Japan, has planned to invest JPY 22 billion (USD 201m/EUR 179m) for the establishment of a solar park at Minamisoma in Fukushima prefecture.
Sumitomos Minamisoma solar power project will be capable of generating 59.9-MW of clean power.
It has deployed local groups Toshiba Corp (TYO:6502) and Taisei Corp (TYO:1801) for the engineering, procurement and construction (EPC) works, revealed Toshiba on Friday.
The trading company has secured funds for this photovoltaic (PV) park project from a banking consortium headed by Mizuho Bank Ltd of Japan.
The solar park will be set up in Migita/Ebi and Mano districts that were hit by the Great East Japan earthquake in 2011.
Project construction work has been going on since this month, and commercial operation of the facility is slated to commence in March 2018.
The PV power plant, after it becomes operational, will be capable of generating enough power to meet the demands of almost 20,000 homes in the region.
As part of Japans feed-in tariff (FiT) scheme, the plants output will be sold to retail power companies.
The city of Minamisoma has charted an ambitious strategy of using only renewable sources of energy to fulfill nearly all of its energy requirements by the year 2030.
