Renewable energy developer Renova Inc., of Japan plans to increase its solar power capacity to over 300 MW, from the current 190 MW it has either operating or under construction in Japan. Speaking to Bloomberg on May 16, 2016, Renova’s corporate planning official said that the company is focusing on bringing its mega-solar pipeline online.
Solar is its priority, but it now aims to expand in other clean energy technologies as well. Renova is currently also working on setting up funds through anonymous partnership agreements to finance some of its solar stations. This, Renova’s Yukiyoshi Tomita told Bloomberg, would allow for more liquidity than setting up a corporation for each solar project, because dividends can be distributed without the need to financial results or hold shareholder meetings.
He pointed out that building up large scale solar farms is becoming difficult in Japan as it is expensive to prepare the land for the purpose. Falling solar power costs are another concern for players in the space.
Since April 1, 2016, Japan has brought down its feed-in-tariff by 11%, which has been the main driving force for solar in the country.