Mitsubishi has announced plans to build three photovoltaic power plants in Japan with a total capacity of 95 MW.
The first project will see a large-scale power plant worth 75 MW installed in Tahara City, Aichi Prefecture, central Japan. The plant will be developed jointly by Mitsubishi and C-Tech Corporations. The two companies have already signed an agreement with the Aichi Public Enterprise Bureau and Tahara City, and the generated electricity will be sold to Chubu Electric Power Company
Under this agreement, Mitsubishi and C-Tech are expected to establish Tahara Solar Co., Ltd this February, which will build and operate the plant. Construction is scheduled to start this summer, while operation is expected to commence in 2014. The total project cost is estimated at over 20 billion yen (€165 million), 80% of which will be raised through project financing.
The 12 MW project will be built on the premises of the Onahama site, which is owned by Nippon Kasei Chemical Company Limited (Nippon Kasei), a Mitsubishi venture company. The project is said to have the full support from Nippon Kasei, as well as cooperation from the Fukushima Prefecture and Iwaki City governments. Operation is expected to start in mid-2014.
Meanwhile, the 6 MW project will be built simultaneously at the site of Onahama Petroleum Ltd, a joint venture between MC and Tepco in Iwaki.
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