Toshiba Corp and a unit of MEMC Electronic Materials Inc, SunEdison have entered into an agreement to build solar power plants in Japan. This deal was confirmed by Japanese daily Nikkei and the power generated in theser plants would be sold by SunEdison.
Toshiba is projecting construction orders for power-plant related facilities totalling 270 billion yen or US$2.75 billion by year's end. It is currently in discussion to build between four and five megasolar plants for the fiscal year.
After the effectivity of the new energy law last July 1, 2012, renewable energy sources and projects have become the vogue in the country. The new law requires that utilities would have to purchase all its electricity needs from renewable energy sources at current rates for the next two decades. Japan is also in the process of phasing out nuclear energy as a means to power the industries of the country after the Fukushima disaster back in 2011.
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