Japan Installs 11 GW of Renewable Energy in Two Years
Sep 29, 2014 - Chisaki Watanabe - renewableenergyworld.com
-- Japan has added 11,090 megawatts of clean energy capacity since July 2012,
when it began an incentive program to encourage investment in renewables, according
to the Ministry of Economy, Trade and Industry.
Of the total, Japan has added 10,880 MW of solar capacity through the end
of June, according to METI data updated on Sept. 26.
Japan, which has a total population of 127 million, has approved 71,780 MW
of renewable energy projects, according to the ministry data. Solar accounts
for 96 percent of the approved capacity.
In related new, a unit of General Electric Co. and partners will get a 90
billion yen ($822 million) loan from Japanese banks to build a 231-MW solar
power station in western Japan.
GE Energy Financial Services, Toyo Engineering Corp., and Kuni Umi Asset Management
Co. will build the 110 billion yen station in Okayama prefecture, the companies
said in a statement today.
Construction will start in November and the station will start running in
2019, according to the statement.
The Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, and Sumitomo Mitsui Banking
Corp. will serve as lead arrangers of the 22 1/2- year syndicated loan, which
will also be provided by regional financial institutions.
Yasuyo Yamazaki, the president and chief executive officer of Kuni Umi Asset
Management and a key player in the project, said: “In addition to the
Setouchi solar project, we developed a mega-solar power plant in Mito-city
Ibaraki Prefecture and started the construction of a woodchip biomass fuel
power plant in Kawaminami-cho, Miyazaki Prefecture. Now we are planning a wind
farm in Nakadomari-cho, Aomori Prefecture. With these projects, we are contributing
to the Ideal Region Development with renewable energy.”
Sushil Verma, a managing director and Japan business leader at GE Energy Financial
Services, said: “Japan’s favorable regulatory policies make solar
power attractive and diversify the country’s power generation sources.
For us, the Kuni Umi project expands our international and renewable energy
footprints, which already include investment commitments of $1.8 billion in
equity and debt in more than one gigawatt of solar power projects worldwide.”
In addition to capital, GE will supply some of the inverters — marking
the debut in Japan of the GE 1 MW Brilliance Solar Inverter, which eliminates
the need for an intermediate transformer, resulting in higher conversion efficiency
and superior grid performance, according to GE.
Lead image: Japan Flag via Shutterstock
Read the orginal article: http://www.renewableenergyworld.com/rea/news/article/2014/09/japan-installs-11-gw-of-renewable-energy-in-two-years?cmpid=WNL-Wednesday-October1-2014