Mitsubishi Corp. announced plans for the construction of a new solar power plant in Iwaki City, Fukushima, Japan. The largest of its kind in the Tohoku region, the 12 MW facility is expected to start operating from mid-2014. The project forms part of Mitsubishi's overall strategic focus of developing its business in the renewable energies sector.
Mitsubishi is developing the solar power project with full support from Nippon Kasei, as well as cooperation from the Fukushima Prefecture and Iwaki City governments.
Mitsubishi is simultaneously developing a 6 MW solar project at the site of Onahama Petroleum Co., Ltd, a joint venture between MC and Tepco in Iwaki. Together, the two projects will constitute 18 MW of solar power generation in total at Onahama.
The company will continue to cooperate with local governments and business partners to develop significant renewable energy businesses domestically along the lines of local energy production for local energy consumption.
According to the company, these projects will help to raise Japan's energy self-sufficiency rate while at the same time nurture new industries, create employment and contribute to the overall revitalization of local communities. Projects of this nature also form a part of larger initiatives to combat global warming. Based on this policy, and including other planned solar power generation projects, Mitsubishi is engaged in the production of some 130 MW of power in total across the country, and is aiming to expand that capacity to 200 MW by 2020.