“At First Solar, we invest in markets where solar power addresses a fundamental need on a sustainable basis,” said James Hughes, First Solar’s chief executive officer.
First Solar Inc., has announced plans to invest around $100 million in the growing Japanese solar power market.
First Solar, a leading thin-film photovoltaic company, will be partnering with Japanese companies to develop, construct and operate these solar power plants.
“At First Solar, we invest in markets where solar power addresses a fundamental need on a sustainable basis,” said James Hughes, First Solar’s chief executive officer.
“Japan is adopting a progressive approach by incorporating clean, safe, renewable sources of power in its plants to address the gap created by nuclear power,” said Mr. Hughes.
First Solar has established a Japan operating subsidiary, First Solar Japan GK and has opened an office in Tokyo.
“We plan to invest in Japan by developing solar power plants both with our own team and through local partners,” said Joseph Kishkill, chief commercial officer of First Solar.
“We believe this strategy will accelerate the adoption of clean and safe solar power in Japan. We welcome partnerships with Japanese companies who seek project investments and complete solar solutions,” said Mr. Kishkill.
As of November 15, First Solar and JX Nippon Oil & Energy Corporation have already signed an agreement for the distribution of First Solar modules in Japan through April 2015.
JX Nippon is Japan’s leading distributor of oil and other energy solutions.
“JX’s far-reaching distribution and our technology expertise will combine to deliver high quality solar power solutions to Japan,” said Mr. Hughes.
As of November 25, First Solar has also announced the start of construction of a 1.4 megawatt solar power project in Kitakyushu-shi.
The Obayashi Corporation, headquartered in Tokyo, and the Yaskawa Electric Corporation, headquartered in Kitakyushu will construct the project.
The project will use First Solar’s thin-film PV modules and will start operating in the first quarter of 2014.
Japan is on its way to becoming one of the biggest solar markets in the world, having achieved 10 gigawatts of cumulative solar power capacity as of September this year (see related story).
The Japanese government has set a target to install around 28 gigawatts of solar power by 2020. – K.R. Jalbuena
