Utility Solar Still Attractive in Japan Despite FIT Cut
Covering an area about the size of Montana, but with a population of more than 127 million, land commands a high premium in Japan. That said, utility solar power project developers continue to see opportunity in the Land of the Rising Sun despite high land-acquisition costs and a recent scaling down of the government’s solar feed-in tariff (FIT).
Partnering on its third utility solar power project, renewable energy investment company Pacifico and GE Financial Services (GEFS) are building a 96.2-MW solar power facility on the southern island of Kyushu. Investing the yen-equivalent of around $292 million, the Hosoe solar power plant will rank among Japan’s largest when completed.