Japan: JGC Corporation plans 26.5 MW PV project

The Japan-based company will, via JGC Plant Solutions and Yonden Engineering Co., Inc., install the plant across 350,000 square meters of land owned by Nissan Motor Co., Ltd. The generated energy – expected to supply around 9,000 households – will be sold to Kyushu Electric Power Co., Inc. under Japan’s recently introduced feed-in tariff.

A special purpose, JGC-owned company will undertake plant management for a 20 year period. Investment, to be supported by a project finance contract with Mizuho Corporate Bank, Oita Bank, Howa Bank, and Fukuoka Bank, is expected to total 8 billion yen (around US$101.9 million, €80.8 million). It is said to be the first project of its kind in Japan to be financed through such a scheme.

The company, which invested in 2 100 MW CSP plants in Spain in 2010, says it has been testing at a demonstration plant in Saudi Arabia since 2011. "Demand for electricity is increasing not only within Japan, but worldwide, and JGC is planning to more fully contribute to the development of sustainable power generation both within and outside of Japan," it said in a statement released.