First project will be a megasolar project based in Okunitama (Ibaraki Prefecture) supplying 2MW and distributed by TEPCO, that confirmed all permissions to connect the PV system to the grid. Second project, of 1.6 MW will be based in Hiroshima.
Isofotón President, Ángel Luis Serrano remarked that, This announcement implies an step forward on the company`s business strategy in Japanese market, building alliances and assuring the recognition of our products from Japanese financial institutions.
In this sense, Isofotón Japan is working to develop our 44MW project pipeline to be installed in Japanese market during 2013- 2014, developing 20MW on projects of approximately 2MW power each one, and the rest on distribution channel through alliances with local companies, always assuring the quality of its product made in its factory based in Malaga (Spain).
Japan`s potential for PV Industry within Asian region
Japan is a country specially focused in photovoltaic energy, having high isolation ratio 4.3 to 4.8 kWh / (m² day) and great support from the government`s side, planning to develop 53 GW capacity of PV solar power by 2030.
In March 2012 Isofotón established Isofotón Japan LLC to respond to the needs of an expanding market, developing strategic alliances with local distributors to promote the distribution of panels for the residential market. For industrial use, it concluded partnerships with several system integrators. In November 2012, it partnered with five other companies to jointly invest in installing a mega-solar project (1.344MW) in Ube Techno Park, placed at Yamaguchi Prefecture which has been completed earlier this year and financed as well with the support of Yamaguchi Bank.
Isofotón present in Japanese market since March 2012, has developed a strong business strategy within Asian region, recently announcing the opening of a new office in Singapore to impulse business opportunities in South East Asia region, with an enormous potential of the region for photovoltaic business.
Isofotóns worldwide development plan bases its principal lines of action on ongoing innovation and on its commitment to R&D,the establishment of production sites wherever the end client is located and the internationalization and development of strategic alliances with renowned prestige such as Samsung. In order to impulse its global positioning, the company has recently signed relevant agreements in México and Honduras that supports this strategy, adding a total pipeline of 1.5 GW by end of 2014.
