Japan Asia Investment breaks ground on 16-MW PV plant in Hokkaido
Solar panels. Featured Image: Jackiso/Shutterstock.com
Tokyo-based Japan Asia Investment Co Ltd (TYO:8518) said on Tuesday is has started construction works on a 15.7-MW solar plant on Hokkaido island.
The photovoltaic (PV) project is being deployed in the municipality of Monbetsu at an estimated cost of JPY 6.6 billion (USD 58.1m/EUR 49.5m), according to the company's press release.
The Monbetsu Kodo Solar Park, as it is named, has a 8.3-MWh lithium storage battery that helps alleviate output fluctuations and improve power supply stability.
When completed, Monbetsu Solar will be producing around 16.5 million kWh annually, enough to meet the consumption of some 5,000 local homes. Local utility Hokkaido Electric Power Company (TYO:9509) will be purchasing the electricity at a feed-in tariff (FiT) of JPY 40 per kWh.
As of end-September 2017, Japan Asia Investment had 104.6 MW of projects in its solar power portfolio, the firm noted.