Tohoku Electric to establish new photovoltaic power company

• 12 years ago (2012-07-31)
• David Flin

Asia 892 Renewables 776

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Japan’s Tohoku Electric Power Company has announced that it will create a joint venture dedicated to photovoltaic power generation in partnership with Yurtec Corporation. Many of the areas affected by the Fukushima tsunami have construction of large-scale photovoltaic power plants included in the reconstruction initiatives. Makoto Kaiwa, President of Tohoku Electric, said: “We would like to further contribute to extended implementation of photovoltaic power generation.”

Tohoku Electric will be the first Japanese utility to establish a company dedicated to large-scale photovoltaic power generation business. The new company, called Tohoku Solar Power, will be set up in September with a capital of $6.4 million. Tohoku Electric will own 70 percent of the joint venture, and Yurtec will own 30 percent.

Although candidate locations are yet to be decided, power plants are planned to be located in the disaster-hit coastal areas of Fukushima, Miyagi, and Iwate Prefectures. Detailed plans will be developed upon the creation of the new company.