Mitsubishi Corporation (MC) and C-Tech Corporation (C-Tech) have concluded an agreement with the Aichi Public Enterprise Bureau and Tahara City for the development of a large-scale mega solar project in Tahara City, Aichi Prefecture.
Under this agreement, MC and C-Tech will jointly establish “Tahara Solar Co., Ltd.” (the Company) this February. The Company will build and operate the 77 MW Mega Solar Power Plant, one of the largest solar projects in Japan. Construction on the project will start this summer, while the actual sale of electricity, to Chubu Electric Power Company, is scheduled to commence in 2014. The total project cost is estimated at over 20 billion yen, 80% of which will be raised through project financing.
Tahara City, located on the Atsumi Peninsula in southern Aichi, is mainly known as an industrial area, particularly for automobile manufacturing, and also as an agricultural area due to its warm climate. Tahara City is said to have one of the best sunlight and wind conditions in Japan, and the City has been actively promoting the development of renewable energy. The project will take advantage of these optimum conditions to develop solar energy for supply to local communities.
Through the development of renewable energy businesses, MC has been collaborating with local governments and private partners to improve Japan’s energy self-sufficiency and combat global warming, while at the same time supporting the development of new industries. With a total solar power generation capacity of 130 MW currently in operation or under development across Japan, MC is aiming to expand its capacity to 200 MW by 2020.
C-Tech seeks further contribution towards realizing low carbon emission society by developing renewable energy. C-Tech is now developing and operating solar projects with total capacity of 130 MW and is actively exploring ways to further expand its renewable energy portfolio.
[Tahara Solar Projects at Completion. ]
[ Reference ]
1. Project outline
(1) Business Entity : Tahara Solar Co., Ltd.
(2) Location : Midorigahama-2 Tahara City, Aichi Prefecture, No. 1 & 4 District
(3) Capacity : 77 MW (on direct current basis. 55 MW on alternating basis.)
(4) Annual Output : Approximately 88,000MWh (enough energy for 24,000 households)
(5) Total Project Cost : over JPY 20 Billion (80% will be raised through project finance)
(6) Buyer of electricity : Chubu electric Power Company
(7) Area : approximately 98ha
(8) Operational commencement : 2014
2. Business Entity.
(1) Name : Tahara Solar Co., Ltd.
(2) Establishment : planned on February 2013
(3) Business : Operation of power generating business
3. Mitsubishi Corporation
(1) Head office : 3-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo, 100-8086, Japan
(2) Year of establishment : April 1950
(3) Capital : JPY 204 billion
(4) Main business activities : Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.
(5) Sales : JPY 20,126 billion
(6) Number of employees : 63,058 (as of March 31, 2012)
(7) Representative : Ken Kobayashi, President and Chief Executive Officer
4. C-Tech Corporation
(1) Head office : 45, Sugumocho 4-Chome, Mizuho-Ku Nagoya-shi, Aichi Prefecture, Japan
(2) Year of establishment : March 1962
(3) Capital : JPY 720 million
(4) Main business activities : Construction and maintenance of Hydro power plant, transmission and distribution system and communication facilities. Also developing renewable energy businesses, as wind power and solar power area.
(5) Sales : JPY 63.7 billion
(6) Number of employees : 1,828 (as of March 31, 2012)
(7) Representative : Toshiyuki Nosaka, President and Chief Executive Officer