(Bloomberg) — Solar Power Inc., a renewable-energy project
developer backed by China’s LDK Solar Co., agreed to help
develop 500 megawatts of photovoltaic systems in Japan.
SPI will own at least 51 percent of a joint venture formed
with Osaka-based K.K. Uniroot to develop the solar farms in
Japan, the Shanghai-based developer said in a statement Tuesday.
Additional terms weren’t disclosed.
SPI “will assume primary responsibility for certain
functions including project funding, construction and equipment
procurement,” according to the statement. Uniroot is managing
“other matters including land purchase and lease, securing
necessary permits and obtaining power-purchase agreements with
Japan is the second-largest solar market, and may install
as much as 12.7 gigawatts of panels this year, according to data
compiled by Bloomberg.
LDK owns about 23 percent of SPI, according to data
compiled by Bloomberg. SPI moved its headquarters to Shanghai
from California in January.
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Will Wade, Robin Saponar