Japan’s Mitsui Chemicals participates in renewable energy project

21 October 2011 08:21  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s Mitsui Chemicals announced on Friday it signed a fundamental agreement with a group of companies experienced in renewable energy to study the feasibility and collaboration in building a solar and wind electricity generation facility at Midorigahma in Tahara City, Japan.

Mitsui Chemicals, Toagosei, Toshiba, Toray Industries, Mitsui Engineering & Shipbuilding and Chubu Electric Power will be participating in the collaboration for the facility, which will be called the Tahara Solar/Wind Cooperative Commercial Operation, the statement said.

The construction of the 67,500 megawatt hours (MWh)/year plant will start in June next year and be completed by September 2013 at Mitsui Chemical’s 820,000 square metres (sqm) site in Midorigahma, the statement added.

The electricity generated at the facility will be sold to Chubu Electric Power, according to the statement.

The construction of the plant will require an investment of approximately yen (Y) 18bn ($234m), which is expected to be financed by the Development Bank of Japan, Mitsui Chemicals said in the statement.

The producer added that it will gain insight from its participation in this project, accelerating its research and development of material and technological solutions for renewable energy.

($1 = Y76.9)

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By: Samuel Wong

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