China-based Global Logistic Properties plans to install solar panels on the rooftops of its 22 properties in Japan.
The company will invest a total of JPY7.4bn ($82m) for the installations on 3.3 million ft² of rooftop space, expected to be completed by March 2014.
GLP has undertaken the project under the new feed-in-tariff scheme recently introduced by Japan’s Ministry of Economy, Trade and Industry.
The scheme enables certain property owners to install solar panels on their properties and sell the electricity to local utilities.
At 17% internal rate of return, the installations are expected to accrue GLP, JPY40 ($0.44) per kWh over the next 20 years.
GLP Japan president Yoshiyuki Chosa noted, "In addition to promoting renewable energy generation, the solar panels create a new revenue stream for GLP."
The panels will be supplied by Yingli Green Energy and are are projected to generate sufficient electricity to power approximately 5,300 households per annum.