Japan-based trading firm Sojitz has outlined plans to foray into the solar power market by investing around JPY35bn ($362m).
The investment being made will be employed in the construction of four solar power plants, with a cumulative installed capacity of around 106MW.
Of all the four solar power projects, the 71MW station will be developed in Aomori prefecture, which is slated for completion by the end of 2016, a 9MW solar plant will be set up in Hokkaido, while the remaining two will be established in Aichi and Kumamoto, totaling 13MW.
Commenting on the development, Sojitz spokeswoman Megumi Kawaguchi was quoted by the Bloomberg as saying that the proposed projects will be the company’s first solar power projects in Japan.
Currently, the company has a 24MW solar power station in Germany.
South Korea-based establishment LG Electronics will deliver solar panels for all four projects.