New Softbank subsidiary to operate solar power plants

(ADPnews) - May 27, 2011 - Japanese mobile operator Softbank Corp (TYO:9984) will set up a subsidiary in two to three months to operate large-scale solar power facilities throughout Japan, company president Masayoshi Son said as cited by Nikkei.

According to Softbank, some 10 huge solar power installations are planned to be built across Japan. The company has secured the support of 26 prefectures, while some local governments have already proposed specific sites.

Softbank plans to begin plant construction work by the end of 2011, so operations can start in 2012.

The new subsidiary will be independent from the company's communications operations.

The announcement follows Softbank's proposal to set up a council together with Japanese prefectures to help expand the use of renewable energy in the country. The council will also work to change certain terms that pose significant challenges to the sector, such as a ban on solar power systems on farmland.

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