Kyocera, IHI and Mizuho Corporate Bank to Build & Operate 70MW Solar Power Plant in Japan

Kyocera, IHI Corporation and Mizuho Corporate Bank today 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 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. Within the agreement, the Kyocera Group will be responsible for the supply of 100% of the solar modules and part of the construction & maintenance of the system; IHI will lease the land and actively participate in the operation of the project; and Mizuho CB will devise a financing plan for the project.

Plans for the plant include exclusive use of approximately 290,000 Kyocera multicrystalline solar modules, with a total capacity of 70MW, becoming the largest officially announced solar power plant in Japan. The planned site of the solar power plant is approximately 314 acres of land owned by IHI — roughly the same area as 27 baseball stadiums. The total project cost is estimated at approximately 25 billion yen ($309 million), with construction to commence in July of this year. The approximately 79,000MWh of annual electricity generated will provide the equivalent power for roughly 22,000 average households, and will help to offset roughly 25,000 tons of CO2 per year.

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