SunEdison confirms 1 GW solar plans for Japan

Jan 19, 2012 - US solar power producer SunEdison, part of silicon wafers maker MEMC Electronic Materials Inc (NYSE:WFR), confirmed plans to build solar plants in Japan with a total capacity of 1 GW worth JPY 350 billion (USD 4.6bn/EUR 3.5bn).

After media reports on the matter, SunEdison told businessGreen.com that it was currently looking for partners to join the projects, whose construction is estimated to take around five years. It has already started discussions with some prefectures over potential sites suitable for solar plants.

The plan is part of SunEdison's efforts to expand its operations worldwide.

The projected wind farms could benefit from Japan's recently introduced renewable energy subsidy scheme that will become effective in July this year. Under the new regulations, utilities will be required to buy all solar, wind, biomass, geothermal and hydropower electricity at pre-defined rates for up to 20 years. The rates are yet to be set.

(JPY 100 = USD 1.304/EUR 1.010)

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