The project development arm of LG Group has won the contract to build the $142.55 million Japanese solar farm, which will be owned and operated by China’s Canadian Solar, with funding from Hanwha Group.
With this action the independent power producer has halved the value of its outstanding bonds, and will reduce its annual interest costs by 50%.
The collaboration between the two companies is moving beyond Panasonic running the Tesla/SolarCity gigafactory, and will enable Panasonic to re-open a factory in Japan.
With nuclear reactors in Japan still struggling to get restarted, amid continuing safety concerns, some believe the nuclear power industry might find it hard to recover, while the momentum behind renewable energy doesnt look like it’ll be reversed.
Tokyo Electric Power Co. is building a 100-kilometer-long electricity transmission line in central Japan as part of the country’s efforts to upgrade its grid infrastructure in view of surging renewable power.
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