Kyocera, 4 Firms To Probe Possibility Of Operating A 430-MW Solar Project

(RTTNews) - Kyocera Corp. (KYO), along with Photovolt Development Partners GmbH, Kyudenko Corp., ORIX Corp. and Mizuho Bank, Ltd., have reached a basic agreement to investigate the possibility of operating a 430-megawatt solar power project on the island of Ukujima in Sasebo City, Nagasaki Prefect of Japan.

The project would be the largest in the world to be implemented on agricultural land and the land use of the project is around 6,300,000 square meters.

Photovolt Development Partners began planning the solar power project in April 2013 to help to contribute to environmental protection and economic revitalization on the remote island.

Approximately 150 billion yen in investment is planned for the project, with a goal of starting construction in fiscal year 2016.

Under the plan, negotiations over land use would be carried out by Ukujima Mega Solar Park Service Corp. or UMSPS, which would lease agricultural land or deserted arable land on the island from respective owners.

A special purpose company will then sublease the land from UMSPS to construct and operate the solar power systems.