Sumitomo Unit to Build 29-Megawatt Wind Farm in Japan

(Corrects to say Summit has taken stake in special-purpose company in second paragraph.)

Summit Energy Corp., a unit of Japanese trading company Sumitomo Corp. (8053), will develop a 29- megawatt wind farm in northern Japan.

Summit has taken a 95 percent stake in a special-purpose company to be set up for the project, it said in a statement today. Construction of the plant, to be built in Oga, Akita prefecture, will start in October and operations are scheduled to start in December 2014, according to the statement, which didn’t give a cost estimate for the plant.

The Nikkei newspaper, which first reported on the project today, said the plant is expected to cost about 7 billion yen ($90 million).

The wind farm will use 12 turbines, made by Mitsubishi Heavy Industries Ltd. (7011), according to the statement.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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