After the Fukushima disaster Japan follows the government’s decision to phase out nuclear power plants and to launch a new feed in tariff scheme from this July in order to drive renewable energy investments.
Kyocera the Japanese solar technology manufacture intend to develop a new 70 MW solar farm and further investment in utility scale solar plants.
The company announced they has reached an agreement with Mizuho Corporate bank and engineering giant IHI Corporation to develop a mega solar plant in Kagoshima City as the Japan’s largest solar farm to date.
Following the contract, Kyocera will provide solar panels, IHI will lease the land and Mizuho will give the money. The companies also agreed to “further explore a business model for utility-scale solar power generation”.
The future giant solar farm is expected to cover314 acreswith 290,000 solar panels and as Kyocera said to generate around 79,000 MWh of electricity a year. This giant solar farm will power more than 22,000 households and will reduce annual carbon emission by approximately 25,000 tons with an estimate investment of $309 million.