June 13 (Reuters) - The Nippon Telegraph and Telephone Corp will construct megasolar farms on idle sites and sell the output to utilities, Japanese business daily Nikkei reported.
The group will invest around 15 billion yen to build about 20 megasolar facilities by the end of fiscal 2014 with an aggregate output capacity of 60,000 kw, the newspaper said.
The foray into the solar power business will be spearheaded by the group’s solar power system manufacturing subsidiary, NTT Facilities Inc, to cash in on a supply crunch created by the closure of various nuclear power plants, Nikkei reported.
Through NTT Facilities, the group has already taken a stake in Ennet Corp., Japan’s leading independent power producer and supplier, the paper said.
Initially six megasolar farms will be set up by January 2013 with an output capacity of around 11,000 kw.