Japanese conglomerate Gunze has unveiled plans to step into the realm of solar by constructing three PV plants with a total capacity of 5.4MW.
The three solar projects will be located in Toyooka City in the Hyogo prefecture, Shimotsuke City in the Tochigi prefecture and Motomiya in the Fukushima prefecture.
Construction is slated to begin in September 2013 and will require an investment of around US$20 million.
Gunze is one of many investors seeking to benefit from the Japanese government’s generous feed-in tariff (FiT). Currently, the FiT rate is ¥42 (US$0.525) per kWh. However, last week the Japanese Ministry of Economy revealed that the government is considering reducing this tariff.