Kyocera Corp. has partnered with other companies to establish Kagoshima Mega Solar Power Corp., a new company that will be tasked with operating a 70 MW solar power plant in southern Japan. The utility-scale solar power plant will become the largest in Japan, according to Kyocera.
The new company will develop and operate the project in Kagoshima City, Kagoshima Prefecture, on land owned by IHI Corp., with the power generated to be purchased by Kyushu Electric Power Co. Inc. under the guidelines of the new feed-in-tariff (FIT) program that was implemented July 1.
The total project cost is estimated at approximately 27 billion yen (approximately $345 million), with seven investment companies involved (including Kyocera). Mizuho Corporate Bank Ltd. will devise a financing plan for the project. Construction is set to commence in September, with plans for completion by fall 2013.
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. Kyocera is the largest shareholder in the establishment of the new company.