Sparx Group joins a long list of companies who are keen to invest in the Japanese PV sector after it signed a memorandum of understanding (MoU) with Ashikitamachi Town and Coretech Co. to develop an 8MW PV plant in the country.
The plant, called Ashikitamachi Mega Solar Plant, will cost in the region of ¥2.8 billion (US$35.8 million). The company’s subsidiary, Sparx Green Energy and Technology, will be responsible for the construction of the plant, which will begin in December 2012. Commercial operation is schedule to start in October 2013.
Japan has seen a recent surge in interest in its PV sector, especially since the introduction of its new attractive feed-in-tariff launched in July 2012. According to independent research firm Solarbuzz, the Japanese PV market is expected to grow by 64% year-on-year in 2012 to 2.05 GW.