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JFE Group Wins Order From Mitsui to Build 3 Solar Power Plants

JFE Holdings Inc. (5411) won an order from Mitsui & Co. (8031) and Tokio Marine Asset Management Co. to build three solar power plants in Japan through subsidiaries.

Four units of JFE Steel, 100 percent owned by the Tokyo- based company, will supply the plants with the combined capacity of 8.3 megawatts in Yamaguchi and Wakayama prefectures in western Japan, the companies said today in a statement, without providing the value of the order. The plants will be operational in the first half of 2013, they said.

Mitsui, Japan’s second-biggest trading company, and Tokio Marine Asset Management, are working on a project to construct 10 solar power stations across Japan at a total cost of 9 billion yen ($114 million).

The Ministry of Economy, Trade and Industry in Japan has approved clean energy projects totaling 1,780 megawatts of capacity, with solar accounting for 83 percent, as of the end of September under a government incentive program.

To contact the reporter on this story: Masumi Suga in Tokyo at msuga@bloomberg.net

To contact the editor responsible for this story: Jason Rogers at jrogers73@bloomberg.net

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