After waves of controversy following the destructive tsunami and subsequent failure of the Fukushima nuclear power plant in March of 2011, Japan began ramping down its atomic energy industry and actively pursuing safer, alternative energy sources.

As reported Reuters, Electronics firm Kyocera Corporation, heavy machinery maker IHI Corporation and Mizuho Corporate Bank announced about their agreement to launch Japan's biggest solar power project at a cost of US$ 307 million. Mizuho will finance the development, and IHI will lease the land on which Kyocera will provide the solar modules and design of the site. An artist's rendering of the farm shows 290 thousand solar panels arranged on 3.14 million square meters of reclaimed land off of the southern city of Kagoshima. Their 70-megawatt plant will generate about 79 thousand megawatt hours of electricity per year, enough for about 22 thousand households.

A special-purpose company (SPC) will be set up to build and run the new plant, with construction starting in July. Further elements of the project, including a start date for commercial operation, will be decided after the government sets prices for a subsidy scheme for renewable energy sources that is also scheduled for launch on July.