April 19 Toshiba Corp and SunEdison, a
unit of U.S.-based MEMC Electronic Materials Inc, have
agreed to build solar power plants in Japan, the Nikkei said.
SunEdison will sell the power generated at these plants, the
Toshiba expects 270 billion yen ($2.75 billion) in orders
for construction of power-plant-related facilities by fiscal
year end, the business daily said, adding the Japanese company
is in talks to build four or five megasolar plants.
Renewable energy sources have found more favor in Japan
after the introduction of a new energy law that took effect on
July 1, 2012 as the country phases out nuclear power in the wake
of the Fukushima disaster in 2011.
The new law requires utilities to buy all electricity output
from solar, wind, biomass, geothermal and small-sized hydro
power plants at preset rates for up to 20 years.