Suntech targets 1GW of PV in Japan for US$2.5 billion - report

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Chinese module manufacturer Wuxi Suntech could seek to install 1GW of PV generation capacity in Japan over the next three years, according to a report in Japanese economic newspaper Nikkei Keizai Shimbun.

The newspaper quoted an interview with Suntech chief executive Eric Luo, which said that the project pipeline could require as much as US$2.5 billion in investment, expected to be borrowed from banks. According to Nikkei, Luo said the projects would be large-scale solar farms and that power would be sold to utilities under Japan’s feed-in tariff (FiT) programme.

In addition to module manufacturing, Suntech has also moved into developing and owning PV plants, including plans to install 900MW in the UK with Suntech modules by the end of 2015 and continuing to acquire downstream companies. Suntech completed the purchase of German developer AEG Solarstrom earlier this week.

According to Nikkei, Eric Luo said the ‘1GW in three years’ strategy would require Wuxi Suntech to make strategic acquisitions, which Nikkei claimed would most likely include purchasing power plants built by foreign businesses in Japan.

PV Tech contacted Luo for confirmation of the report but did not receive a reply in time for the publication of this article.

Shunfeng Photovoltaic International, parent company of Suntech, reported in its financial results for the first half of the year that strong module shipments by Suntech contributed significantly to revenues. Shunfeng Photovoltaic International purchased Wuxi Suntech in April this year. 

Below is the first part of PV Tech's interview with Eric Luo earlier this year. Follow links for parts two and three.

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