Seven firms to develop 250-MW solar project in Japan
Sep 14, 2012 - Seven companies are to build a 250-MW solar power facility in Japan's Okayama prefecture for a total cost of between JPY 65.6 billion (USD 840m/EUR 644m) and JPY 86.1 billion, daily Nikkei said Friday.
The firms involved in the project include Japan's telecommunications provider Nippon Telegraph and Telephone West Corp and engineering group Toyo Engineering Corp (TYO:6330) as well as the Japanese subsidiaries of US computer services provider International Business Machines (NYSE:IBM) and US investment bank Goldman Sachs (NYSE:GS).
As part of the project, which was unveiled by Setouchi City yesterday, construction of the solar plant will begin in June 2013, with commercial operations due to start in April 2016.
The companies are considering tapping institutional investors by means of a securitisation technique to fetch funds for the project. Basic plans for the solar power plant will be drawn by March 2013.