Seven Japanese cos kick off 56-MW solar/wind project

Nov 7, 2012 - Japanese Toshiba Corp (TYO:6502) said today that construction of a 56-MW combined solar/wind power project in Japan's Aichi prefecture had been formally launched.

The project is being developed by a consortium of seven companies, including Toshiba, Mitsui Chemicals (TYO:4183), Mitsui & Co Ltd (TYO:8031), C-Tech Corp, Toagosei Co Ltd (TYO:4045), Toray Industries Inc (TYO:3402), and Mitsui Engineering & Shipbuilding Co Ltd(TYO:7003).

The companies agreed in October 2011 to launch feasibility studies for the project and following the successful outcome of the assessments they signed a formal agreement in September 2012.

The project will consist of a 50-MW solar photovoltaic (PV) power facility and a 6-MW wind farm to be built in Tahara City, Aichi Prefecture. It calls for JPY 18 billion (USD 225m/EUR 175m) in investment. Commercial operation is expected to begin in October 2014. Upon completion, the plant is expected to generate some 67,500 MWh of electricity annually, powering some 19,000 average households or 90% of Tahara City's population.

(JPY 100 = USD 1.249/EUR 0.970)

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