Three companies, Kyocera Corporation, IHI Corporation and Mizuho Corporate Bank have unveiled their plans to install a 70 megawatt (MW) photovoltaic plant in Kagoshima City located in Southern Japan. Kyocera will supply the 290,000 multicrystalline photovoltaic modules and will also be responsible for construction and maintenance. IHI will lease the land for the project which will span across 314 acres and finally, Mizuho Bank will provide the investment that comes up to 25 billion yen ($308 million). The project which is said to start this July is expected to generate around 79 MW of energy annually which will be sufficient to power about 22,000 average households.
For now, the word is that local Kyushu Electric Power will be purchasing the electricity from them Solar Plant. The three companies have released a statement saying that this project is an answer to help solve Japan’s power supply issues caused by the Great East Japan Earthquake and also to make a contribution to environmental protection. To run the service once it is up and running, the three companies will establish a “special purpose” company in June of which Kyocera is expected to become the largest shareholder.
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