KYOCERA Establishes New Company to Operate 70MW Solar Power Plant in …

August 4, 2012 by  
Filed under Solar Energy Tips

KYOTO, Japan–(BUSINESS WIRE)–Kyocera Corporation (NYSE:KYO)(TOKYO:6971), along with six other
companies, today announced the completion of capital investment
procedures for the establishment of Kagoshima Mega Solar Power
Corporation, a new company which will be tasked with operating a 70
megawatt (MW) solar power plant in southern Japan. The utility-scale
solar power plant will become the largest in Japan*1.

The new company will develop and operate the previously announced 70MW
solar power plant
in Kagoshima City (Kagoshima Prefecture) on land
owned by IHI Corporation — with the power generated to be purchased by
Kyushu Electric Power Co., Inc. under the guidelines of the new feed-in
tariff (FIT) program which was implemented on July 1 in Japan. The total
project cost is estimated at approximately 27 billion yen (approx. 345
million US dollars*2), with seven investment companies
involved (including Kyocera), and Mizuho Corporate Bank, Ltd. set to
devise a financing plan for the project. Construction is set to commence
in September of this year, with plans for completion by fall of 2013.

The Kyocera Group will be responsible for the supply of 100% of the
solar modules and part of the construction maintenance of the system.
Kyocera is the largest shareholder in the establishment of the new
company.

Expectations and interest in solar energy have heightened to a new level
in Japan with the need to resolve power supply issues caused by the
effects of the Great East Japan Earthquake, and the start of a revamped
FIT program which stipulates that solar installations producing more
than 10 kilowatts (kW) of solar energy be subsidized with a feed-in
tariff of 42 yen (approx. 53 cents*2) per kilowatt hour for a
period of 20 years. Through the start of this new solar power project
Kyocera aims to proactively tackle environmental problems by promoting
the use of renewable energy.

 

Company Overview

 

Company name

Kagoshima Mega Solar Power Corporation

Headquarters

1-1 Kamoikeshinmachi, Kagoshima City, Kagoshima Prefecture, Japan
(within Kyudenko Corporation’s Kagoshima Branch Office)

Representative director

President and Representative Director: Tatsumi Maeda (also serves as
vice president and representative director of Kyocera Corporation)

Established

July 10, 2012

Capital

Approx. 4.3 billion yen (approx. 55 million US dollars*2)

Investing companies

Kyocera Corporation; KDDI Corporation; IHI Corporation; Kyudenko
Corporation; Bank of Kyoto, Ltd.; Kagoshima Bank, Ltd.; Takenaka
Corporation

Business outline

 

To sell power produced from 70MW solar power plant to local utility
company (Kyushu Electric Power Co., Inc.).

Power to be purchased for a period of 20 years starting from
commencement of power supply.

 

Role of Participating Companies

 

 

 

Operation

 

Kyocera Corporation

Construction

Kyocera Solar Corporation; Kyudenko Corporation; Takenaka Corporation

Operational maintenance

Kyocera Solar Corporation; Kyudenko Corporation

Land leasing

 

IHI Corporation

 

Solar Power Plant Overview

 

 

 

Power output

 

70MW solar power generation system

Location

2 Nanatsujima, Kagoshima City, Kagoshima Prefecture, Japan

Area

1,270,000m2

Annual output

Approx. 78,800MWh (projected)

Electricity generated will provide the equivalent power for
roughly 22,000 average households, and will help to offset roughly
25,000 tons of CO2 per year.

Construction timeline

 

Start of construction: September 2012

Completion: fall 2013 (planned)

 

*1 Largest individual solar power plant in Japan for an
installation at one location; based on publicly announced projects.
Research by Kyocera (as of July 2012).
*2 For the
reader’s convenience; based on an exchange rate of JPY78.25 = USD1 (July
31, 2012).

For more information and images of the Kagoshima mega-solar power
plant, please see:
http://global.kyocera.com/news/2012/0403_kara.html

About
KYOCERA

Kyocera
Corporation
(NYSE:KYO)(TOKYO:6971) (http://global.kyocera.com/),
the parent and global headquarters of the Kyocera Group, was founded in
1959 as a producer of fine
ceramics
(also known as “advanced ceramics”). By combining these
engineered materials with metals and plastics, and integrating them with
other technologies, Kyocera has become a leading supplier of solar power
generating systems, telecommunications equipment, printers, copiers,
electronic components, semiconductor packages, cutting tools and
industrial ceramics. During the year ended March 31, 2012, the company’s
net sales totaled 1.19 trillion yen (approx. USD14.5 billion). The
company is ranked #426 on Forbes magazine’s 2012 “Global 2000″
listing of the world’s largest publicly traded companies.

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