STX Solar to build PV farm in Japan with Korea South-East Power

SOUTH KOREA: South Korea’s STX Solar will join hand with Korea South-East Power to jointly pursue a photovoltaic (PV) power generation project at Sendai-shi Miyagi Prefecture, Japan. The partnership agreement for the construction of PV power farm in Japan was signed a day before the announcement.

STX Solar, Korea South-East Power, Bookook Securities and Korea Electric Power Corporation formed a consortium to pursue PV power opportunities in which Korea South-East Power contributes to the overall business management, STX Solar EPC (engineering, procurement and construction), Bookook Securities financing, Korea Electric Power Corp. power generation management.

The construction of PV farm with the total capacity of 45 megawatts (MW) is expected to begin on an 830,000 pyeong site at Sendai-shi Miyagi Prefecture in the first half (H1) of next year. The PV farm will sell 660,000 MWh (megawatt-hour) of electricity to a Japanese power generation company which is enough to supply 19,000 households a year.

Japan’s PV market is growing at an annual average of 30 percent which is a stark contrast to the stagnating global PV market. The Japanese government has recently begun FIT (feed-in-tariff, or subsidy) program for the PV industry in a bid to nurture PV power as the next new renewable energy.