Mitsubishi Corporation is really getting its renewable energy game on; with several announcements concerning major wind and solar PV projects in the last week.
Mitsubishi said it is developing the solar energy project with full support from Nippon Kasei Chemical Co., as well as cooperation from the Fukushima prefectural and Iwaki city governments.
Mitsubishi Corporation and C-Tech Corporation have entered into an agreement with the Aichi Public Enterprise Bureau and Tahara city to jointly develop a 77MW PV plant in Tahara city, Aichi Prefecture, Japan.
As part of the development plans, the companies will establish a new firm called Tahara Solar Co. in February which will build and operate the 77MW facility. The project will require a total investment of ¥20 billion (US$220.5 million), of which 80% will be raised through project financing.
Construction is expected to begin this summer and will cover around 98 hectares of land. The plant is scheduled to come online in 2014 and generate approximately 88,000MWh of electricity a year. Output will be sold to Chubu Electric Power Company through a power purchase agreement.
Mitsubishi has also announced plans to construct a 12,000kW solar power plant in Iwaki City, Fukushima, as well as a 6,000kW PV facility at the site of Onahama Petroleum Company in Iwaki City. Both projects are expected to complete in August 2014.
At present, Mitsubishi has a total PV capacity of 130MW in operation or under development across Japan. The company is aiming to increase this to 200MW by 2020.
Mitsubishi Corp. on Jan. 28 said it plans to build a solar power plant in Iwaki, Fukushima Prefecture, the largest of its kind in the disaster-hit Tohoku region.
The 12-megawatt facility is expected to start operating in mid-2014.
The company is also involved in a 6-megawatt solar project at the Iwaki site of Onahama Petroleum Co., a joint venture between Mitsubishi and Tokyo Electric Power Co.
Iwaki is known as one of the region’s foremost industrial areas and a major sightseeing area. It receives the highest amount of sunlight annually within Tohoku, Mitsubishi said.