Understanding was reached between Kyocera, IHI an Mizuho Corporate Bank regarding the next big alternative energy project in Japan. The Basic Agreement was about the 70MW solar power plant in Kagoshima City at Kagoshima Prefecture, Japan.
Probably Japanâ€™s business community is now aware that in the long-run, the destructive nuclear power plant is about to obsolete, as it might cause unnecessary headaches such as radiation leakage due to tsunami, earthquakes, etc.
This non-fossil fuel mega-watts solar plant project is claimed going to offset roughly 25,000 tons of CO2 release annually in Japan and help to power approximately 22,000 average households electricity demand.
The 79,000MWh solar power plant will use 290,000 Kyocera multicrystalline solar modules, is equivalent to almost 40% of the total amount of public/industrial-use solar power equipment shipped from Japan in 2011.
Inside the basic agreement, Kyocera Group is assigned the task to supply 100% of the solar modules and part of the construction & maintenance of the system, IHI is appointed for land leasing and actively involvement in the project operation, while Mizuho Corporate Bank will be the prime financing source for the project.
Kyocera will eventually become the major shareholder for this particular mega-watts solar power plant through a specially established company for the business operation. Kyocera with help from IHI will develop a plan to obtain more support and involvement of other special purpose investment companies including from Kagoshima Bank, Kyudenko Corporation, KDDI Corporation, Takenaka Corporation and others.
The Mega-Watts solar power plant is roughly about 27 baseball stadiums or about 314 acres of land or approximately 1,270,000m2. The total project cost is estimated to reach 25 billion yen (or about 309 million US dollars).
If everything going smoothly, the solar power plant construction project is scheduled to begin July this year.