The Japanese manufacturer says it expects to produce about 1 GW of solar panels in the year to March 2018, roughly in line with its output in the preceding fiscal year.
The Ministry of Economy, Trade and Industry (METI) has said that it may cancel feed-in tariff (FIT) approvals for 456,000 projects, or roughly 27.6 GW of capacity, as the prospective developers of those projects failed to lock in grid-connection agreements by the government’s March 31 deadline.
The company aims to build what would be one of the country’s largest PV arrays near a high-voltage substation in Queensland’s Lower Wonga region. Via the substation, the project would supply electricity to cities and towns such as Gympie, Gin Gin, Teebar Creek, Mungar, Kilkivan and Brisbane.
The Chinese solar investor and developer has revealed plans to issue 700,000,000 shares to Driven Innovation at HK$0.95 per share, representing about 9.39% of its existing issued share capital. It expects net proceeds to reach HK$664.5 million ($85.4 million).
The Japanese group — which develops solar projects and provides PV systems solutions, in addition to EPC and O&M services — has warned of “substantial doubt” over its “ability to continue as a going concern,” largely due to the decline of its nuclear business in the U.S.
The developer — a venture between Japanese telecoms giant SoftBank, New Delhi-based conglomerate Bharti Enterprises and Taiwanese contract manufacturer Foxconn — has commissioned its first project in the country in Kurnool district, in the state of Andhra Pradesh.