June 14, 2012 / 11:25 PM / in 6 years

Sharp, Osaka Gas, M'bishi Corp to build solar plants in Canada -Nikkei

TOKYO, June 15 (Reuters) - Osaka Gas Co, Mitsubishi Corp and Sharp Corp are teaming up to build and operate solar plants in Canada with a combined generating capacity of 100 megawatts, the Nikkei newspaper said Friday.

They will set up a company that will invest roughly 35 billion yen ($442 million) to build nine photovoltaic plants in eastern Ontario province with a generating capacity of more than 10 megawatts each, the Nikkei said.

The trio will soon establish the company in Canada with capitalisation of nearly 10 billion yen. Osaka Gas and Mitsubishi will each take 45 percent stakes, with Sharp acquiring 10 percent, the Nikkei said.

Three of the plants are scheduled to begin operating by the end of this year, with the remainder expected to come online by the end of 2013, the Nikkei said. ($1 = 79.2650 Japanese yen) (Reporting by Ayai Tomisawa; Editing by Michael Watson)

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