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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Kyocera Corporation    6971   JP3249600002

KYOCERA CORPORATION

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GF, Kyocera, Kyudenko, and Tokyo Century Announce Opening of Approx. 100MW Solar Power Plant in Kagoshima, Japan

05/28/2020 | 10:16am EST

GF Corporation, Kyocera Corporation, Kyudenko Corporation, and Tokyo Century Corporation announced that Kanoya Osaki Solar Hills LLC, a solar power venture jointly established by the four companies, has started operating its 'Kanoya Osaki Solar Hills Solar Power Plant' - the largest power plant in Kyushu*1 - with peak generating capacity of approximately 100 megawatts (MW).

Kanoya Osaki Solar Hills Solar Power Plant

Kanoya Osaki Solar Hills Solar Power Plant

Project Overview

Project name

Kanoya Osaki Solar Hills Solar Power Plant

Location

Kanoya City and the Town of Osaki in Kagoshima Prefecture, Japan

Output

Approx. 100MW

Annual power generation

(Estimated)

Approx. 117,000MWh/year

Equivalent to approx. 39,300 typical households*2

Solar modules

356,928 Kyocera-produced solar modules

Total investment

Approx. 40 billion yen

Electricity purchasing company

Kyushu Electric Power Co., Inc.

Features

1.Environmentally friendly power plant designed to make minimal land redevelopment impact.

2.Employs new solar-module installation method designed for steep mountainside locations.

(Introduction of spider machines and trestles for slopes)

3.Rapid construction system will allow installation at the rate of 10 MW per month

Project timeline

April 3, 2017: Start of construction

March 10, 2020: Start of operation

Project planning began in January 2014, as the local community expressed interest in repurposing land designated for a golf course more than 30 years ago that was subsequently abandoned. The site uses 356,928 Kyocera solar modules and is expected to generate approximately 117,000MWh - enough electricity to power roughly 39,300 typical households*2, offsetting about 62,420 tons of CO2 emissions per year.

Under the agreement, Kanoya Osaki Solar Hills LLC will manage operations of the facility. A consortium established by Kyudenko and GF is undertaking design, construction, and maintenance of the power plant, and Kyocera is supplying high-efficiency solar modules. Tokyo Century is responsible for the financing arrangement, with Tokyo Century and The Bank of Fukuoka, Ltd. jointly arranging a syndicated loan with 17 regional banks.

Kanoya Osaki Solar Hills LLC has been working on the construction of the site with the cooperation of Kagoshima Prefecture, Kanoya City, the Town of Osaki, and other members of the community. We believe that this installation will contribute greatly to the local community through the creation of jobs and increased tax revenues in both Kanoya and Osaki. In addition, considering the site's impact on its surrounding natural environment, we aimed to build a power plant with an environmentally friendly design to minimize land development impact.

Through this project, we will continue to promote renewable energy, environmental protection and a more sustainable society.

'GF, Kyocera, Kyudenko and Tokyo Century started this project with a commitment to contribute to the community in cooperation with local governments by assisting with a long-term land redevelopment vision,' said Akihito Kubota, Executive Officer and General Manager of the Corporate Smart Energy Group at Kyocera. 'Kanoya Osaki Solar Hills LLC aims to operate a power plant with an environmentally friendly design to minimize land redevelopment impact. Through this project, we will continue to promote renewable energy, environmental protection, and a more sustainable society.'

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
KYOCERA CORPORATION -0.38% 6737 End-of-day quote.6.50%
KYUDENKO CORPORATION -1.24% 3180 End-of-day quote.-4.50%
KYUSHU ELECTRIC POWER COMPANY, INCORPORATED 0.84% 961 End-of-day quote.8.22%
TOKYO CENTURY CORPORATION -2.81% 8290 End-of-day quote.1.34%
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Sales 2021 1 494 B 14 404 M 14 404 M
Net income 2021 91 180 M 879 M 879 M
Net cash 2021 402 B 3 876 M 3 876 M
P/E ratio 2021 27,1x
Yield 2021 1,90%
Capitalization 2 442 B 23 551 M 23 544 M
EV / Sales 2021 1,37x
EV / Sales 2022 1,28x
Nbr of Employees 75 505
Free-Float 86,4%
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Hideo Tanimoto President & Representative Director
Goro Yamaguchi Chairman
Masahiro Inagaki Senior Executive Officer, General Manager-R&D
Shoichi Aoki Director & General Manager-Business Administration
Robert E. Whisler Director
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