Kyocera, Century Tokyo Leasing to form solar power JV

(SeeNews) - Aug 9, 2012 - Japanese electronic and solar power equipment maker Kyocera Corp (TYO:6971) today said it had agreed to form a joint venture (JV) with local leasing firm Century Tokyo Leasing (TYO:8439) to build solar power plants in Japan.

Century Tokyo will own a 81% stake in the joint entity, which is planned to be established with a capital of JPY 100 million (USD 1.27m/EUR 1.03m) this month.

The partners expect the new company to build up to 70 MW of solar power in the next three years.

Century Tokyo will lease equipment and provide project financing. Kyocera will supply solar panels and manage the plants.

The Japanese government launched feed-in tariffs (FiTs) for solar power of JPY 42 (USD 0.54/EUR 0.43) per kW from July 1, which have already attracted many domestic and global sector players and are expected to boost the Japanese solar market.

(JPY 100 = USD 1.273/EUR 1.032)

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