Japan invests ¥54bn in solar

Japan plans to invest around ¥54billion (£433million) on solar projects in the next three years, according to reports. Orix Corporation, a Japanese finance and leasing company, said the projects would […]

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By Priyanka Shrestha

Japan plans to invest around ¥54billion (£433million) on solar projects in the next three years, according to reports.

Orix Corporation, a Japanese finance and leasing company, said the projects would have a total capacity of 200MW.

Reports claim the company would invest around ¥30billion (£240million) to build solar power stations and a further ¥24billion (£192million) will be spent to lease rooftop space from factories and warehouses for solar installations.

The plans follow Japan’s introduction of an incentive program for clean energy earlier this years in an effort to cut its dependence on nuclear power following the Fukushima disaster.

Its Government set the Feed-in tariff rates for solar at ¥42 per kWh for 20 years, about triple the amount industrial users paid for electricity in the 12 months prior to March.

The country also announced plans to build its largest solar plant earlier this month.