Solar Frontier, Development Bank of Japan and Taiyo Oil Company Form Joint Company to Develop Solar Power Project in Japan2016-02-16
Solar Frontier, Development Bank of Japan and Taiyo Oil Company Form Joint Company to Develop Solar Power Project in Japan
Tokyo, February 16th, 2016 – Solar Frontier, the Development Bank of Japan (DBJ) and Taiyo Oil Company announced today they have reached a general agreement to collaborate on a 16.5MW solar power project in Yamaguchi Prefecture, Japan. The three companies have established a joint company, SDT Solar Power, to develop and manage this project.
SDT Solar Power is now initiating work on the project. Construction of the solar power plant is scheduled to begin in the summer of 2016 and operation is targeted to begin in 2017. It is expected to produce about 20,000,000 kilowatt-hours per year, equivalent to the annual electricity consumption of 3,880 average households in Japan, as well as displace CO2 emissions by about 10,500 tons per year.
For this project, Solar Frontier is supplying its CIS modules, which yield more energy (kilowatt-hours per kilowatt-peak) in real-world environments than crystalline silicon modules. Once the new solar power plant is operational, Solar Frontier’s experienced specialist team will also provide Operation & Maintenance services, one of Solar Frontier’s value-added services.
DBJ is directly investing in the project utilizing its “Special Investment Operations”, Established in 2015, this measure aims to contribute to regional economic revitalization and reinforce corporate competitiveness. Additionally, DBJ is inviting financial institutions to support raising funds by project financing.
Taiyo Oil Company will lease its land for this project in addition to participating in the management of the joint company. Taiyo Oil Company is currently developing new businesses under its Medium-Term Management Plan, which includes solar energy.
By working together to advance this project, Solar Frontier, DBJ and Taiyo Oil Company are contributing to the growth of clean, renewable energy in Japan.
|Joint Venture Company|
|Company name:||SDT Solar Power K.K.|
|Representative Director:||Takuro Watanabe|
|Site Location:||Yamaguchi Prefecture, Japan|
|Site Area:||Approx. 180,000 ㎡ (Taiyo Oil Holdings)|
|Size:||Approx. 16.5 MW|
|Annual Output:||Approx. 20,000,000 kilowatt-hours|
|Construction start:||July, 2016 (target)|
|Construction finish:||August, 2017 (target)|
|Module:||Approx. 100,000 (Solar Frontier CIS thin-film modules)|
Photo: Land owned by Taiyo Oil Company to build the solar power plant
About Solar Frontier
Solar Frontier K.K., a 100% subsidiary of Showa Shell Sekiyu K.K. (TYO:5002) (“Solar Frontier”), has a mission to create the most economical, ecological solar energy solutions on Earth. Building on a legacy of work in solar energy since the 1970s, Solar Frontier today develops and manufactures CIS (denoting copper, indium, selenium) thin-film solar modules for customers in all sectors around the world. Solar Frontier’s gigawatt-scale production facilities in Miyazaki, Japan, integrate compelling economical and ecological advantages into every module: from lower energy requirements in manufacturing to the higher overall output (kWh) of CIS in real operating conditions. Solar Frontier is headquartered in Tokyo, with offices in Europe, the U.S.A., and the Middle East. Visit www.solar-frontier.com for more information.
About Development Bank of Japan (DBJ)
Development Bank of Japan Inc. (DBJ), is 100% owned by the Japanese government, provides seamlessly integrated investment and loan services. DBJ’s corporate philosophy is “Applying financial expertise to design the future”. Using creative financing techniques, DBJ is committed to working with customers to resolve their issues, earn their trust and help them achieve their future prosperity. Visit www.dbj.jp/en/ for more information.
About Taiyo Oil Company
Taiyo Oil Co., Ltd. (“Taiyo Oil”) was established on February 27, 1941, as an oil refining and distributing company. Taiyo Oil advocates a "corporate philosophy" to embody the mission of the company that we as an integrated energy company will attempt to harmonize with the global environment and provide security and safety so as to contribute to the creation an enriched society. In accordance with the philosophy, Taiyo Oil aims to be a company with sustainable management by establishing a “unified operating system” covering all stages from the development and import of oil to the manufacture and sales of oil and petrochemical products.
For Solar Frontier global media inquiries, please contact:
Kai Maraun or Akane Yamiya
Corporate Communications Department, Solar Frontier
Tel: +81 (3) 5531-5792