Daiwa House Group to Build 20MW Solar Power Plant in Japan

Daiwa Lease Co., a unit of Daiwa House Industry Co. (1925), will develop and operate a 20-megawatt solar power station in Japan’s western prefecture of Wakayama.

Daiwa House will construct the plant while Daiwa Service Co. will provide maintenance services, the three companies, all based in Osaka, said in a statement yesterday.

The plant will cost about 6 billion yen ($61 million) to build, according to the statement.

Construction will start in June 2014, the companies said. Daiwa Lease will sell solar power to Kansai Electric Power Co. (9503) for 20 years from April 2016 under Japan’s incentive program for clean energy known as feed-in tariffs.

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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