(SeeNews) - May 28, 2012 - Japan Wool Textile Co (TYO:3201) intends to close its golf course in Inami town, Hyogo prefecture, in September and use the land to build a 9.8-MW solar power plant, daily Nikkei said Saturday.
The company is to pour JPY 3 billion (USD 38m/EUR 30m) in the project. The facility, planned to come on stream in March 2013, is to produce 9,537 MWh a year, enough to cover the consumption of 2,600 local households, the report said.
Nikkei said that Japan Wool's decision to close the Inami green was hoped to result in a more effective use of the land, as the golf course had been posting losses. With the solar park, on the other hand, the company will be able to benefit from the feed-in tariffs (FiTs) for renewable energy that are to come into effect this July. The rate at which solar power would be purchased by utilities is JPY 42 per kWh. Japan Wool believes that its 9.8-MW solar power plant would bring profits with that FiT in place, Nikkei said.
(JPY 100 = USD 1.255/EUR 1.003)