Five firms including Kyocera, Photovolt Development Partners, Kyudenko, ORIX and Mizuho Bank have entered into a deal to check the possibility of developing and operating a 430-megawatt (MW) solar power project at Ukujima Island in Nagasaki, Japan.
The project, which would require an investment of approximately $1.47bn, would be the largest in the world to be implemented on agricultural land, claims Koycera.
Named as Ukujima Mega Solar Park (UMSPS), the project was initially planned by Photovolt in April 2013, with an aim to protect environment and revitalise economy on the island.
Under the plan, UMSPS would first take an area of approximately 6.3 million square meters on the island on lease and then sublease the land to TeraSol for constructing and operating the solar power systems.
The project plans to use Kyocera’s 1,720,000 high-output multi-crystalline silicon solar modules to develop the 430MW system.
The entire project is expected to generate around 500,000MWh of power per year, which will be sold to local utility company Kyushu Electric Power.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe power will be transported from Ukujima to Kyushu’s plant at the island of Kyushu through a 60-kilometre undersea cable.
In addition to production of power, TeraSol and UMSPS will support local farmers by providing agricultural grant funds to produce oat grass and other pasture grasses on the island.
As per the plan, Kyocera and Kyudenko will be responsible for construction, maintenance and management of the project, while Mizuho Bank will look after planning and coordinating the projects’ financing.
Meanwhile, Kyocera, Kyudenko and ORIX are further planning to make capital investments into TeraSol.
Construction works on the solar power project is expected to start in 2016.
Image: Satellite view of the Ukujima Island in Nagasaki, Japan. Photo: courtesy of Kyocera Corporation.
