Connect with us

Hi, what are you looking for?

<em>Image Credit: <a href="">Setouchi</a> via Wikimedia Commons</em>

Clean Power

GE Financially Backing 230 MW Solar PV Power Plant In Japan

GE Energy Financial Services — the energy arm of US conglomerate General Electric (GE) — recently announced that it will be financially backing a massive 230 MW solar PV power plant currently being slated to be constructed in the Japanese city of Setouchi.

The US-based GE is planning to invest between JPY 10-20 billion yen ($100-200 million) into the project — representing a substantial percentage of the total project costs of $777 million dollars. The Setouchi-based solar power project will be Japan’s largest once completed.

Image Credit: Setouchi via Wikimedia CommonsImage Credit: Setouchi via Wikimedia Commons

As the investment is for the running of the plant, it will grant GE a majority stake in the company that will operate the plant — Tokyo-based Kuni Umi Asset Management.

As it stands currently, the 230 MW Okayama Province based power plant is set to begin operations in 2018 — greatly boosting the solar energy capacity of the country at that point. The largest solar power plant now in operation in the country is a 70 MW installation located on the southern Japanese island of Kyushu.

The exact details of the deal are, of course, not completely clear yet, but GE Energy Financial Services did confirm that it will be an equity investment.

“Because documents about this project have been publicly disclosed by the Setouchi municipal assembly, we can confirm that if certain conditions are met, GE plans to invest in the solar power project,” GE spokesman Andy Katell told Reuters in an interview.

Keep up to date with all of the latest news on solar energy here on CleanTechnica. Subscribe to our free solar energy newsletter or overall cleantech newsletter to never miss a story.

Check out our brand new E-Bike Guide. If you're curious about electric bikes, this is the best place to start your e-mobility journey!
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.


You May Also Like

Clean Power

NREL Uses Advanced Grid Research Environment for First-Ever Example ofType-3 Turbines Using Grid-Forming Controls

Clean Power

Three-Dimensional Printing of Thermoplastic Blades Enables Thermal Welding, Improves Recyclability

Clean Power

Offshore wind holds great promise as a source of clean, domestic, renewable energy that can meet the needs of communities along the nation’s coastlines....

Clean Power

Standing hundreds of feet above ground, wind turbines — like tall trees, buildings, and telephone poles — are easy targets for lightning. Just by...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.