Kyuko, Kyudenko and JFE Engineering have jointly established Kyushu Shine Energy Corporation as the first stage of the venture, which is to develop approximately 50 MW of renewable power plants across Japan by 2015.
As part of the initial phase of the project, construction has begun on the 1.7 MW Meishihama Solar Plant in Tamana Gun, located in southern Japan. The facility is planned to begin operation in September.
Equipped with 7,200 panels, the solar plant will cover 18,178 square meters and, when complete, will generate more than 1,800 MWh a year, equal to the energy needs of around 500 ordinary households. The Kyushu Electric Power Company will buy the electricity generated by the plant.
Kyuko offers asset management and funding solutions, while JFE provides engineering, planning and construction services. Upon completion, Kyudenko will oversee operation and maintenance of the facility.
In addition to solar projects, the three companies will continue their partnership on geothermal and wind power projects.
With Japan having surpassed Italy and Germany to become the second biggest solar market in the world, many companies have gradually turned their focus on solar projects in the country. Orix began expanding into solar last year when it set up a 1.5 MW roof rental solar power project in Japan.