South Korean companies, including Korea South-East Power Co., a unit of Korea’s monopoly power distributor, and STX Solar Co., plan to build a 45-megawatt solar farm in Sendai, Japan.
The project may cost 130 billion won ($120 million) when construction begins in the first half of next year in northeastern Japan, which was hit by a tsunami and earthquake in March 2011, Gumi, South Korea-based STX said in an e-mailed statement.
The solar farm will be able to generate power to meet the energy needs of some 19,000 households, the statement said.
Chief executives at the four Korean companies, including Bookuk Securities Co., signed a preliminary contract in Seoul with their counterpart in Sendai today, it said.
Sendai Aoba will be in charge of securing land and administrative approvals. The Korean companies plan to sell output from the solar farm to Tohoku Electric Power Co. Inc., according to the statement.