Gestamp Solar secures 300MW Japanese PV projects

Gestamp Solar, a unit of Spain-based Corporación Gestamp, together with electricity consumption consulting services provider Kankyo – Keiei will develop 300MW solar projects throughout Japan.

The company had secured the projects to be built in 3 years, following the introduction of an incentive program introduced in Japan in July to promote renewable energy.

Gestamp Solar will begin with the installation of 30 MW utility-scale projects in various locations in the country, particularly over roof-tops.

Gestamp Solar CEO Jorge Barredo was quoted by Bloomberg as speaking to the press in Tokyo as saying that the projects will cost $5,000 a kilowatt amounting to a $1.5bn investment.

"As an investor, we believe Japan offers a good environment and the Japanese market is one of our priority markets. Japanese panels fit Japanese culture and we want to have businesses with local suppliers," he added.

Barredo also stated that Kankyo Keiei and Gestamp Solar will identify suitable roof-tops and jointly develop permits, licenses and authorizations.

Gestamp Solar, a branch of Corporación Gestamp’s Gestamp Renewables, recently concluded the 55MW Renault project in February 2012.

Kankyo Keiei Senryaku Soken president Tetsuyuki Murai further said, "We have been involved for many years in the energy management of more than 4,400 stores and facilities in the logistics and service industries, primarily supermarkets. We are pleased to go into partnership with Gestamp in the photovoltaic generation business."