(Updated below) Having placed greater emphasis on its project business as part of its restructuring efforts, MEMC, via its subsidiary, SunEdison, is reported to be planning a major move to become a key project developer in Japan. The reports claim that the company is in discussions with provincial authorities for PV projects totalling 1GW with an investment of US$4.6 billion over a five-year period.
Should the reports prove accurate, MEMC would be significantly ramping its overseas project portfolio, predominantly since now having been concentrated in the US and to a smaller degree projects in Europe, especially Italy.
According to the reports, MEMC is seeking financial support for the project from Japanese investors.
Update: MEMC issued a statement on January 18 stating that it had no concrete plans for any investment or projects in the Japanese market.