Hitachi High-Tech, Etrion to Build 34MW of Japan Solar Projects

Sep 01, 2014 11:00 pm ET

Sept. 2 (Bloomberg) -- Hitachi High-Technologies Corp. and Etrion Corp. will build two solar-power stations in Japan as they embark on a plan to develop 300 megawatts of capacity in the country by 2017.

Construction of a 24.7-megawatt plant in the northern prefecture of Iwate and a 9.3-megawatt station in Ibaraki, northeast of Tokyo, is scheduled to begin this year, the companies said in a statement today.

Hitachi High Tech, based in Tokyo, and Geneva, Switzerland- based Etrion signed an agreement in 2012 to develop solar stations in Japan. They’re targeting 100 megawatts of solar capacity by 2015 and 300 megawatts by 2017, according to the statement.

Sumitomo Mitsui Trust Bank will provide loans for about 80 percent of the cost of the first two stations, according to the statement. Total costs weren’t disclosed.

Etrion is a solar-power developer with projects in Italy and Chile.