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Wuxi Suntech Plans to Enter Japan’s Retail Electricity Market

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March 7 (Bloomberg) -- Suntech Power Japan Corp., a unit of China’s Wuxi Suntech Power Co., plans to expand beyond marketing solar panels to generating electricity for sale to retail customers in Japan.

The company plans to build solar plants with partners, a company official said by phone today, declining to name the partners or size of the projects. The official asked not to be named citing company policy.

Suntech was registered as a new power supplier as of March 3, according to data from the website of the Ministry of Economy, Trade and Industry. Suntech aims to start selling electricity as early as Dec. 20, the official said.

The move comes as Japan plans to liberalize electricity markets in 2016, which will allow households to pick power suppliers. Currently, Japan’s 10 utilities have an effective monopoly in supplying power to homes.

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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