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| LG CNS CEO Kim Dae-hoon, right, poses with U.S. solar power plant company Sonnedix CEO Andreas Mustad after signing a deal to build a 33-megawatt-class solar power plant in the Oita prefecture, Japan, Tuesday. / Courtesy of LG CNS |
By Yoon Sung-won
LG CNS said Tuesday it will build a 33-megawatt-class solar power plant in Japan.
The system solution provider and LG Group affiliate said it has won a 130 billion won ($112.1 million) deal to establish the Imaichi solar power plant in the Oita prefecture over the next two years.
Expectations are the deal will help LG CNS accelerate its drive for its global solar power generation business.
"The Imaichi solar power plant project will give us a solid foothold in the Japanese market, where foreign companies have had difficulties reaching," LG CNS Executive Vice President Kim Tae-keuk said.
"We will seek more opportunities in the eco-friendly energy business in Japan and continue to expand the solar power generation business worldwide under close cooperation with global partner enterprises."
The size of Japanese solar power generation market reached 9.7 gigawatts as of last year, the second-largest in the world following China's 10.6 gigawatts.
Since the Fukushima disaster, Japan has tried to cut its reliance on nuclear energy and produce more renewable energy. The country has expected to gradually add more solar power plants nationwide by 2030 despite a slowdown in growth rate of the renewable energy industry.
The company stressed that winning a solar power plant project and independently operating it is considered difficult for a foreign company due to the nation's thorough and complicated authentication process.
Nevertheless, LG CNS said it has already built power plants that can produce a total of 43 megawatts in Japan. Adding the new 33-megawatts solar power plant to its portfolio, LG CNS will become the largest Korean solar power generation business operator in Japan.
The company said it has worked with LG Electronics for this project. LG Electronics has provided highly efficient 315-watt solar power modules to meet the project's requirement that the plant should be able to produce maximum power output per unit area.
LG CNS said the solar power plant order has been placed by Oita Solar Power Corp., which is invested by U.S. solar power plant company Sonnedix.
Aiming at further expanding its presence in Japan, the company said it is also in discussion with Sonnedix for four additional solar power plant projects in the country, which will generate 80 megawatts of power using modules made by LG Electronics.
Earlier in June, LG CNS signed an agreement to team up with Sonnedix for projects in Central and South America.
The company launched a new division designated for the new energy businesses to push for new business opportunities in this sector both at home and abroad.
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