Japan's Sumitomo Corp to build solar power generation plant in Spain - report

TOKYO, May 09, 2008 (Thomson Financial via COMTEX) -- By Staff Reporter

Japan's Sumitomo Corp. will build a large solar energy plant in Spain and start wholesaling electricity as early as this year to a local utility, the Nikkei reported on Friday without citing sources.

The major trading house will build a 130,000 square-meter solar farm on the island of Tenerife by teaming up with the local government and other partners, the business daily said.

The facility will have a 9-megawatt output capacity, which is enough to meet the power needs of 3,500 ordinary households.

Total project costs are estimated at 8.5 billion yen ($81.8 million), of which 7 billion yen will be funded through project financing from Mizuho Corporate Bank, the report said.

($1 = 103.94 yen)

yasuhiko.seki@thomsonreuters.com

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Copyright (C) 2008 Xinhua Financial News. All rights reserved

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