Pacifica Capital buys land for 2.9-MW solar plant in Japan
Sep 27, 2013 - Japanese real estate asset manager Pacifica Capital KK said today it had purchased land to build a 2.9-MW solar facility in eastern Japan.
The company has acquired a 47,200-sq m (509,000-sq ft) plot of land in Japan’s eastern prefecture Ibaraki on Honshu island. The site was previously owned by the Yamagata Commercial High School, which is not operating since March 2012. Pacifica will soon start demolition works. It plans to switch on the solar system in August 2014. The system will benefit from a feed-in tariff (FiT) of JPY 42 (USD 0.426/EUR 0.316) per kWh, which was secured in March 2013.
The asset manager entered the solar business after in July 2012 Japan introduced ample FiTs for renewable power following the Fukushima nuclear power plant accident. It set up a solar team and is currently developing several medium- and large-scale solar projects in Japan, it noted.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.