Softbank to Invest in Japan Solar Power Projects

24 May 2011 (Last Updated May 24th, 2011 18:30)

Japan's telecom company Softbank has unveiled plans to build about ten 20MW solar facilities of approximately JPY8bn ($97.6m) each. Softbank will invest about 10% of the cost for developing these projects, while the local governments will provide about JPY100m ($1.22m) for each facilit

Japan's telecom company Softbank has unveiled plans to build about ten 20MW solar facilities of approximately JPY8bn ($97.6m) each.

Softbank will invest about 10% of the cost for developing these projects, while the local governments will provide about JPY100m ($1.22m) for each facility and the rest will be borrowed from the banks, reports AFP.

Upon receiving the necessary approvals, Softbank may use solar panels produced by Sharp Corp for the construction of the projects, to be built in Eastern Japan.

Earlier this month the Japanese prime minister Naoto Kan scrapped a national energy policy plan under which nuclear reactors would meet 50% of nations's energy needs by 2030.