Sparx Enters Renewable Business Building Mega-Solar Power Plant
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Sparx Group Co. will build a mega-solar power plant in southern Japan as it expands beyond fund management to meet rising demand for renewable energy after the March 2011 nuclear disaster.
Sparx, with 449 billion yen ($5.7 billion) of assets, signed an agreement with a town in Kumamoto prefecture, in the southern Kyushu island, and Coretech Co., a Tokyo-based company providing alternative energy consulting business, today to build the plant, said Sparx Chief Executive Officer Shuhei Abe. The cost to build the plant, expected to start operating in October 2013, will be about 2.8 billion yen, Abe said.