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Kyocera Wins 8.5 Billion Yen Solar Order From Mitsubishi Venture

Kyocera Corp. (6971) won an 8.5 billion yen ($90 million) order for solar panels from a venture set up by Mitsubishi Corp. (8058) and a Japanese agriculture association.

The Kyoto-based company will supply 30 megawatts of panels to be installed at 80 locations, spokesman Masakazu Imamasu said by phone from Tokyo, confirming an earlier report by the Nikkei newspaper today.

The venture was set up in October to generate power from solar panels on roofs of farm buildings, according to a statement on June 3 by Mitsubishi and the National Federation of Agricultural Cooperative Associations. They hold a 45 percent stake each. JA Mitsui Leasing Ltd. owns 10 percent.

The venture plans to install 200 megawatts of solar panels on rooftops by March 2015, Mitsubishi and the association said in a July 25 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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