Tokyo, Jan 28, 2013 - (JCN Newswire) - Mitsubishi Corporation (MC) and C-Tech Corporation (C-Tech) have concluded an agreement with the Aichi Public Enterprise Bureau and Tahara City for the development of a large-scale mega solar project in Tahara City, Aichi Prefecture.
Under this agreement, MC and C-Tech will jointly establish 'Tahara Solar Co., Ltd.' (the Company) this February. The Company will build and operate the 77 MW Mega Solar Power Plant, one of the largest solar projects in Japan. Construction on the project will start this summer, while the actual sale of electricity, to Chubu Electric Power Company, is scheduled to commence in 2014. The total project cost is estimated at over 20 billion yen, 80% of which will be raised through project financing.
Tahara City, located on the Atsumi Peninsula in southern Aichi, is mainly known as an industrial area, particularly for automobile manufacturing, and also as an agricultural area due to its warm climate. Tahara City is said to have one of the best sunlight and wind conditions in Japan, and the City has been actively promoting the development of renewable energy. The project will take advantage of these optimum conditions to develop solar energy for supply to local communities.
Through the development of renewable energy businesses, MC has been collaborating with local governments and private partners to improve Japan's energy self-sufficiency and combat global warming, while at the same time supporting the development of new industries. With a total solar power generation capacity of 130 MW currently in operation or under development across Japan, MC is aiming to expand its capacity to 200 MW by 2020.
C-Tech seeks further contribution towards realizing low carbon emission society by developing renewable energy. C-Tech is now developing and operating solar projects with total capacity of 130 MW and is actively exploring ways to further expand its renewable energy portfolio.
1. Project outline
Business Entity: Tahara Solar Co., Ltd.
Location: Aichi Prefecture, No. 1 & 4 District
Capacity: 77 MW (on direct current basis.
55 MW on alternating basis.)
Annual Output: Approximately 88,000MWh
(enough energy for 24,000 households)
Total Project Cost: over JPY 20 Billion
(80% will be raised through project finance)
Buyer of electricity: Chubu electric Power Company
Area: approximately 98ha
2. Business Entity
Name: Tahara Solar Co., Ltd.
Establishment: planned on February 2013
Business: Operation of power generating business
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
Source: Mitsubishi Corporation
Mitsubishi Corporation Telephone: +81-3-3210-2171 Facsimile: +81-3-5252-7705
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