South Korean manufacturer STX Solar has joined forces with Korea South-East Power to develop a 45MW PV project in Japan.
The project will be built in Sendai-shi, in the Miyagi Prefecture, and is intended to take advantage of Japan’s generous feed-in tariff and burgeoning solar industry.
Other members of the consortium driving the project are Bookook Securities, which will provide financing, and Korea Electric Power Corporation, which will provide power generation management.
Construction of the plant will begin in the first half of next year. When complete, it will sell 600,000MWh of electricity to a Japanese power company.
Japan’s PV market is growing at an average of 30% annually. This is due to the introduction of a FiT to kick-start a domestic solar industry following the Fukushima nuclear disaster last year.