PARIS – Solar Frontier (Tokyo) and the Development Bank of Japan (DBJ) said they have formed a joint venture company that will invest in utility-scale solar power plants.
The joint investment company will become an independent power producer and will invest in utility-scale solar projects throughout Japan, starting with projects totaling 100 megawatts per year, Solar Frontier and DBJ said. To be operational in February, the joint venture will be 60 percent owned by Solar Frontier and 40 percent owned by DBJ.
Solar Frontier and DBJ said they expect the joint venture will be able to adjust to the demand for utility-scale projects in the Japanese market by providing integrated processes along the value chain from financing to construction and independent power producer operations.
Earlier this month, Solar Frontier claimed it had demonstrated energy conversion efficiency of 19.7-percent for cadmium-free, thin-film solar cells measuring about 0.5 cm². This was achieved using cells cut from a 30cm x 30cm substrate.
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