(SeeNews) - Dec 4, 2013 - Japan's Toshiba Corp (TYO:6502) said Tuesday it aimed to install 100 MW of solar capacity in Germany by 2016 using a new model -- on-site generation at apartment building.
The company plans to sell the output to the people living in the buildings at a rate lower than the one charged by German utilities, it said.
Toshiba will commence work under the project in March 2014 as its debut on the German solar power market. It will start with 3 MW of solar power systems at apartment buildings owned by German real estate group Gagfah (ETR:GFJ) in Villingen-Schwenningen and Ostfildern, in the state of Baden-Wuerttemberg. The generated power will go to 750 apartments.
Financing for the planned installations will come from pension funds, the Japanese electronics group said. The panels will be installed, managed and operated by the German unit of UK-based Toshiba International Europe (TIL).
In cloudy days and during the night, Toshiba will purchase electricity from the energy exchange and sell it to the residents at the same rate as that for the solar output. The Japanese company already has a plans to install energy storage and management systems in order to secure the self-sufficient power consumption of the buildings.