JGC unveils 31-MW solar project in Japan

Oct 1, 2013 - Japanese engineering group JGC Corp (TYO:1963) said Monday it would design and build a 31-MW solar park in Chiba prefecture, eastern Japan.

The project, which will be JGC’s second solar development in the Asian country, will require an investment of JPY 10 billion (USD 102m/EUR 75m). The money will be secured through a project finance deal with Sumitomo Mitsui Banking Corp, Chiba Bank (TYO:8331) and Joyo Bank (TYO:8333).

Planned for a site of Taiyo Kogyo Corp in Kamogawa city, the solar park will be capable of producing enough power to meet the electricity needs of about 11,000 local homes. When up and running, its output will be sold to utility Tokyo Electric Power (TYO:9501) under the existing feed-in tariff programme in Japan.

A special-purpose firm, a subsidiary of JGC, will be in charge of the system’s management for 20 years. JGC has already carried out intensive topography studies of the area where the scheme will be built.

In May JGC inaugurated a 26.5-MW solar plant in Japan’s Oita prefecture. The firm has also invested in two 100-MW concentrating solar power (CSP) plants in Spain, which started commercial operations in February 2012, and has since 2011 been involved in the testing of solar photovoltaic technology at a pilot plant in Saudi Arabia.

(JPY 100 = USD 1.018/EUR 0.752)

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