Watami to install 15 MW of solar capacity on Hokkaido - report

Aug 16, 2013 - Japanese firm Watami Co Ltd (TYO:7522) will partner with Community Wind Power Co to install a 15-MW solar park on Hokkaido, the northern island, Nikkei said today.

Several other media said that Watami will pour JPY 4.5 billion (USD 46m/EUR 35m) into the project. Construction is to kick off in October, while power generation is planned to commence in November next year.

Watami's major business involves the operation of restaurants mainly in Tokyo. Yet, the company already has experience with wind farms.

Although Japan approved a 10% cut in the feed-in tariff (FiT) for solar electricity to JPY 37.8 per kWh as of April 1, the rate is still attractive enough and many domestic and foreign companies are rushing to Japan's solar market. A study by IMS Research, released in March, says that the country will install over 5 GW of solar photovoltaic (PV) capacity in 2013 or more than Germany, Italy or the US each.

(JPY 100 = USD 1.027/EUR 0.770)

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