Kyocera Corp., IHI Corp. and Mizuho Corporate Bank Ltd. (Mizuho CB) have reached an agreement to construct a 70 MW solar power plant in southern Japan and to further explore a business model for utility-scale solar power generation.
The project will be built in Kagoshima City (Kagoshima Prefecture). Under the agreement, the Kyocera Group will be responsible for the supply of 100% of the solar modules and part of the construction and maintenance of the system.
IHI will lease the land and actively participate in the operation of the project. Mizuho CB will devise a financing plan for the project. Furthermore, a special-purpose company will be established to undertake the business operation of the plant, with Kyocera planning to become the largest shareholder.
Plans for the plant include exclusive use of approximately 290,000 Kyocera multicrystalline solar modules. Japan will launch a revised solar feed-in-tariff program on July 1, the companies add. The power generated is envisioned to be purchased by Kyushu Electric Power Co. Inc.