Over a three-year period, Gestamp Solar intends to develop 300MW of solar power in Japan, focusing on rooftop projects. Bloomberg reported that the company is forecasting the cost at US$5,000 per kilowatt, which according to Jorge Barredo, CEO of Gestamp Solar, would be an investment of US$1.5 billion.
“As an investor, we believe Japan offers a good environment and the Japanese market is one of our priority markets,” he said through a translator at a news conference in Tokyo. Gestamp expects to develop its projects by mainly using Japanese panels. “Japanese panels fit Japanese culture and we want to have businesses with local suppliers,” Barredo said.
Bloomberg noted that as part of the 300MW, Gestamp Solar aims to develop at least 30MW of solar on rooftops with Japan’s Environmental Management Strategy Research Institute.