Toshiba plans 100 MW of solar for Japan

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Reuters has reported that the Japanese electronics giant is planning to invest 30 billion yen ($379.6 million) in building solar plants with a capacity totaling 100 MW. It added that Toshiba plans to start construction on them this year, with completion scheduled for 2014.

Toshiba could not be immediately reached for further comment.

The news comes just days after the Japanese government approved a new feed-in tariff scheme, under which the country’s utilities will have to purchase electricity from renewable sources at pre-set premiums for up to 20 years. The price for solar-generated electricity, it continued, will be 42 yen ($0.53) per kWh, which is said to be triple what industrial users pay for conventional power.