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Kyocera, Gaia Power, Kyudenko and Century Tokyo Leasing Announce Construction of 92MW Solar Power Plant in Japan

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Kyocera Corporation (herein “Kyocera”), K.K. GAIA POWER (herein “Gaia Power”), Kyudenko Corporation (herein “Kyudenko”), and Century Tokyo Leasing Corporation (herein “Century Tokyo Leasing”) announced that the companies have made a joint investment in Kanoya Osaki Solar Hills LLC, a solar power operating company, to construct and operate a 92-megawatt (MW) solar power plant. Planned for construction on a site stretching across Kanoya City and Osaki Town in Kagoshima Prefecture, the project will become one of the largest solar installations in Japan.

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Rendering of the Kanoya Osaki Solar Hills Solar Power Plant in Japan (Photo: Business Wire)

Rendering of the Kanoya Osaki Solar Hills Solar Power Plant in Japan (Photo: Business Wire)

Project planning began in January 2014, as the local community expressed interest in effectively using the project site, which had been designated for a golf course more than 30 years ago but subsequently abandoned. Covering a total of approximately 2,000,000m2 (approx. 494 acres), the site will accommodate 340,740 Kyocera solar modules, and is expected to generate roughly 99,230MWh annually – enough electricity to power approximately 30,500*1 typical households, offsetting roughly 35,730 tons of CO2 emissions per year*2.

Under the agreement, Kanoya Osaki Solar Hills LLC will operate the site, and a joint venture established by Kyudenko and Gaia Power will undertake the design, construction and maintenance of the solar installation. Kyocera will supply its high-efficiency solar modules, and Century Tokyo Leasing will arrange financing. Approximately 35 billion yen (approx. USD290 million) in investment is planned for the project, with a goal to start construction in the second half of FY2016 (October 2015 to March 2016) and begin operations in FY2018 (April 2017 to March 2018).

The land development application for the project was submitted in April 2015, along with a year-long environmental impact assessment which has been completed. The massive installation will contribute to the local community through job creation and increase of tax revenues in Kanoya City and Osaki Town. The companies are cooperating with Kagoshima Prefecture, Kanoya City and Osaki Town to ensure environmentally friendly construction methods, and remain committed to promoting renewable energy as well as contributing to environmental protection and the creation of a sustainable society.

*1 Based on average annual use of 3,254.4kWh per household. Source: Federation of Electric Power Companies of Japan (Graphical Flip-chart of Nuclear & Energy Related Topics 2015)
*2 Based on calculations derived from standards created by JPEA

Project Overview

Project name Kanoya Osaki Solar Hills Solar Power Plant
Location Kanoya City and Osaki Town in Kagoshima Prefecture, Japan
Output Approx. 92MW
Expected annual power generation

Approx. 99,230MWh/year
Electricity generated will provide the equivalent power for roughly 30,500 average households.

Solar modules Approx. 340,740 Kyocera modules
Total investment Approx. 35 billion yen (planned)
Project timeline

Second half of FY2016: Start of construction
FY2018: Start of operation

Company Overview

Company name Kanoya Osaki Solar Hills LLC
Location Kanoya City, Kagoshima Prefecture, Japan
Established May 27, 2014
Shareholders

K.K. GAIA POWER: 72.7%
Kyocera Corporation: 9.1%
Kyudenko Corporation: 9.1%
Century Tokyo Leasing Corporation: 9.1%

About KYOCERA

Kyocera Corporation (NYSE:KYO) (TOKYO:6971), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as “advanced ceramics”). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of solar power generating systems, mobile phones, printers, copiers, electronic components, semiconductor packages, cutting tools and industrial ceramics. During the year ended March 31, 2015, the company’s net sales totaled 1.53 trillion yen (approx. USD12.7 billion). Kyocera appears on the latest listing of the “Top 100 Global Innovators” by Thomson Reuters, and is ranked #552 on Forbes magazine’s 2015 “Global 2000″ listing of the world’s largest publicly traded companies.

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