KOMIPO to Construct Largest Solar Photovoltaic Power Generation Facilities in Japan
Korea Midland Power (KOMIPO) will construct 68MW solar photovoltaic power plants and sell electric power to a local electricity company in Kansai region, Japan. This is the largest solar photovoltaic power generation plant in Japan.
KOMIPO concluded on April 12 contracts with CEF, a renewable energy company in Japan, and S-Energy, a solar module company in Korea, for jointly developing 10MW solar photovoltaic power facilities in Minamiawazi and 58MW solar photovoltaic power facilities in Kawanishi.
Under the arrangement, the three companies will jointly construct large scale solar photovoltaic power complexes in these two regions, and sell their electric power to Kansai Electric Power in Japan for 20 years. Based on the renewable energy feed-in tariff (FIT) system, electricity companies in Japan purchase solar photovoltaic power for 42 yen (480 won) per 1kWh.
In these projects, KOMIPO will be responsible for construction and management, while S-Energy will take charge of supply of solar modules and engineering. Construction funds will be raised in the form of project financing by a finance company in Korea. These partners will improve profitability of the solar photovoltaic power facilities by using the site where CEF is operating 37MW wind power generation farm.
They also can dramatically reduce costs for connecting with electric power systems and constructing transmission lines by using existing transmission facilities of the wind power generation farm, while shortening construction period and minimizing civil complaints.
In addition to these two projects, KOMIPO plans to develop up to 200MW solar photovoltaic power generation projects in Japan, providing smaller companies in Korea with chances of exporting solar modules and sharing growth.
President Choi Pyeong-rak of KOMIPO said, “We expect KOMIPO’s experience in operating power plants, S-Energy’s capability of developing projects and construction ability of CEF will generate significant synergy effect, contributing to sharpening competitive edge in Japan where competition is heated.”
Besides the solar photovoltaic power generation projects in Japan, KOMIPO is operating and developing various renewable energy programs in foreign countries, including the solar photovoltaic power plant in Siam, Thailand, Wampu hydropower plant in Indonesia, and solar photovoltaic power generation project in Boulder, the United States.