Under the terms of the agreement, Kyocera Group will supply 100% of the modules to be installed while Kyudenko will be responsible for the construction, maintenance and management of the solar power systems.
Mizuho Bank will plan and coordinate the projects’ financing whereas Kyocera, Kyudenko and ORIX are seeking capital investments into TeraSol.
Ukujima Mega Solar Park Service (UMSPS) will negotiate over lease agricultural land or deserted arable land on the island from respective owners, following which a special purpose company TeraSol G.K. will sublease the land from UMSPS to construct and operate the solar power systems.
Kyocera, Kyudenko, ORIX and Mizuho Bank will achieve an environmentally friendly business model using solar power as well as contribute to the development of the island’s agricultural base.
Scheduled to commence construction in FY2016 (April 2015 to March 2016), the project is expected to cost approximately YEN150bn (approximately $1.47bn) in investment.
Image: Five companies team up to build 430MW solar power project in Japan. Photo: Courtesy of FrameAngel/FreeDigitalPhotos.net.
