Sojitz Plans to Build Four Solar Stations for $362 Million

Sojitz Corp. (2768), a Japanese trading company, will enter the country’s solar power market with plans to invest 35 billion yen ($362 million) to build four plants.

They will have a combined capacity of 106 megawatts including a 71 megawatt station in Aomori prefecture, which will be completed by the end of 2016, the Tokyo-based company said today in a statement.

Sojitz will also build a 9 megawatt plant in Hokkaido and plans two more in Aichi and Kumamoto, which will be 13 megawatts each, according to the statement.

They will be the company’s first solar projects in Japan, according to Sojitz spokeswoman Megumi Kawaguchi. Sojitz has a 24 megawatt station in Germany.

The Nikkei newspaper reported earlier today that South Korea’s LG Electronics Inc. (066570) will supply panels for all four plants. Kawaguchi said the company hasn’t decided on suppliers.

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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