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Finance GreenWatch » 9.Energy » JAIC Starts Construction of 1.02MW Solar Plant in Miyagi(SPPB)

JAIC Starts Construction of 1.02MW Solar Plant in Miyagi(SPPB)

The construction site (source: Japan Asia Investment)

The construction site (source: Japan Asia Investment)

Japan Asia Investment Co Ltd (JAIC) announced March 20, 2015, that it has started the construction of a solar power plant with an output of about 1.02MW in Motoyoshi-chou, Kesennuma City, Miyagi Prefecture, Japan.

The mega (large-scale) solar power plant, “Kesennuma City Motoyoshi-chou Solar Power Plant,” will be built for a solar project promoted in cooperation with Renewable Japan Co Ltd, a solar power plant developer based in Minato-ku, Tokyo.

Toshiba Plant Systems & Services Corp provides EPC (engineering, procurement and construction) services for the plant. Toshiba Corp and Toshiba Mitsubishi-Electric Industrial Systems Corp (TMEIC) supply solar panels and PV inverters, respectively, to the plant.

The total cost is about ¥360 million (approx US$3.02 million), 80% of which is covered by a project finance loan (20% by cash reserves).

The plant is scheduled to be completed in November 2015. It is expected to generate 1,100,000kWh of electricity, which is equivalent to the amount consumed by 330 households, per year. The electricity generated will be sold to Tohoku-Electric Power Co Inc.

JAIC has already started construction or operation of four mega solar plants with a total output of 16.9MW. The latest project in Kesennuma City is the company’s fifth solar project.

JAIC allocated new shares to a third party in December 2014 in the aim of raising an investment fund for mega solar projects. In addition to the five sites, the company is dealing with more than 80MW of solar projects.

Filed under: 9.Energy