Marubeni Corp. a Japanese trading company with investments in wind farms in the U.K. and geothermal plants in Indonesia, said it will build a solar power plant in Japan with a capacity of 81.5 megawatts.
The project will cost about 24 billion yen ($303 million), said a Marubeni spokeswoman who declined to be named citing company policy. The plant will have the capacity to supply about 30,000 households, the company said in a statement.
Construction of the plant in Oita city, Oita prefecture, will begin in November and it’s scheduled to start operations in March 2014. All electricity generated will be sold to Kyushu Electric Power Co., according to the statement.
Marubeni’s shares fell 1.14 percent to 520 yen as of 12:32 p.m. in Tokyo. The shares have gained 11 percent so far this year.