Japanese electronics maker Toshiba announced the largest solar energy project in the country. The company plans to build solar plants in north-eastern Japan with a total capacity of 100 megawatts.
Toshiba intends to spend about Y30 billion ($380 million) to build several plants in Minami Soma, only 25 kilometres from the crippled Fukushima nuclear plant.
Recently, tech maker Kyocera said it would lead an alliance that intends to build a 70 megawatts solar plant in Kagohima Prefecture. At the time of the announcement, it was the largest such project in Japan. Kyocera would cooperate with heavy machinery maker IHI and Mizuho Corporate Bank.
Japan announced on Monday financial incentives for renewable energy that could clear the way for billions of dollars in investments in the new sector.
For solar energy, the authorities will pay subsidies of Y42 per kilowatt-hour, double than what Germany is paying, and three times more than what is paid in China.