Canadian Solar to build factory in Japan: report

Wed Feb 22, 2012 1:52pm EST

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(Reuters) - Canadian Solar Inc plans to build a factory in Japan and is currently in negotiations with local governments in Fukushima and Miyagi prefectures, the Nikkei reported.

The business daily said the facility, which is expected to have a capacity of 150 megawatts of solar panels a year, could go online as soon as the spring of 2013.

Sales of solar cells in Japan rose 30.7 percent to 1,296 megawatts in 2011, helped by a government scheme to promote renewable energy. [ID:nL4E8DF1DP]

In a scheme expected to be launched in July, utilities must buy any electricity generated by solar, wind, biomass, geothermal and small hydro power plants at preset rates for up to 20 years.

Japan is overhauling its energy policies after the Fukushima radiation crisis and is looking to raise the role of renewable sources such as wind and solar power.

(Reporting by Swetha Gopinath in Bangalore; Editing by Maju Samuel)

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