Kyocera, along with six other companies, has announced the completion of capital investment procedures for the establishment of a new firm to operate a 70MW solar power plant to be built in Kagoshima City, Japan.
Kagoshima Mega Solar Power Corporation will develop and operate the utility-scale solar power plant, which will sell generated power to Kyushu Electric Power under the guidelines of a new feed-in tariff (FIT) programme.
Seven investment companies and Mizuho Corporate Bank are set to devise a financing plan for the project, which costs about JPY27bn ($345m).
Construction of solar power project will commence in September 2012 and is scheduled for completion by 2013.
Kyocera will supply 290,000 multi-crystalline solar modules for the plant which will cover an area of 1.27 million m2.
The plant is expected to generate approximately 78,800MWh of electricity which will help meet the power needs of 22,000 average households, and will divest 25,000t of CO2 per year.
Image: Artist rendering of the mega-solar power plant. Photo: courtesy of Kyocera.