Mitsubishi UFJ switches on 60-MW PV plant in Fukushima

Japan's Mitsubishi UFJ Lease & Finance (TYO:8593) announced last week that it has switched on a roughly 60.2-MW photovoltaic (PV) plant in Fukushima prefecture.

The solar plant was developed in cooperation with its unit Mitsubishi Research Institute Inc (TYO:3636), also know as MRI, which holds a 19% stake.

Toho Bank Ltd (TYO:8346) and The Bank of Tokyo-Mitsubishi UFJ, together with other unnamed financial institutions, were the financial supporters of the solar park. Daiwa Energy Co Ltd, a unit of Japan's Daiwa House (TYO:1925), was in charge of the engineering, procurement and construction (EPC) works.

Covering an area of about 880,000 sq m in Namie town, the PV facility has an estimated annual power generation of about 71 million kWh, enough to meet the demand of 14,500 local households.

The PV park is also part of the local plan to recover the area affected by the 2011 earthquake that devastated the Tohoku region, the company added.

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