IBC Solar AG has entered the booming Japanese PV market with the announcement this week that the company has commenced work on a 2.3 MW PV plant in Sakura, east of Tokyo.
IBC Solar will work on collaboration with local contractors in the development, acquisition, financing and execution of the plant, construction of which begin in the midway point of May when IBC Solar shipped 9,144 of its IBC PolySol 255 modules to Sakura.
During the construction phase, the German PV specialist will pre-finance the entire project, with a view to selling it once complete in mid July. For the project, IBC solar secured the highest feed-in tariff (FIT) of 40 YEN in May last year a move that, allied to IBCs German quality standards, makes the completed plant a potentially attractive proposition for investors. The FIT rate is guaranteed for 20 years.
"Based on our profound experience as a leading PV system integrator worldwide, we feel very comfortable doing business in Japan," said IBC Solar AG CEO and founder, Udo Möhrstedt. "IBC Solar is fully committed to the development of a strong and sustainable PV sector in Japan, and we are very proud to contribute to the countrys rich future in solar energy."
Further plans are afoot for IBC Solar, with discussions already advanced with a handful of small- and medium-sized local partners in Japan to expand the companys presence in the country. Local know-how and strong financing are seen as key drivers for any future growth, added Möhrstedt. "The philosophy of IBC Solar is matching the main values of Japanese business culture 100%.
"The two main aspects that contribute to IBC Solar's success all over the world are the very high quality of our business along the value chain, and our policy of long-term relationships with our partners that are based on trust and solidarity."
Globally, IBC Solar boasts a PV capacity of 2.5 GW, spread across 150,000 separate PV systems. The companys Japanese journey, however, is only just beginning.