Japan’s Itochu takes stake in Norway solar firm
Tokyo, May 28, 2008
Source: Reuters.com
http://www.reuters.com/article/marketsNews/idUST19861520080529
Japanese trading house Itochu Corp said it has bought 10 percent of unlisted Norwegian solar power technology firm Scatec As for 1.3 billion yen ($12.4 million) to join development of solar facilities in Europe. Itochu already holds a stake in Scatec’s group company Norsun, which is building a plant to produce monocrystalline silicon wafers used in solar cells.
The Norwegian group plans to build solar facilities in the Czech Republic, Germany, Bulgaria and other European countries where governments are expanding support for clean energy projects. The Nikkei business daily on Thursday reported that Itochu would join Scatec to build solar parks in the Czech Republic this year, costing about 10 billion yen. Itochu will also spend some 100 billion yen to develop a solar park in Bulgaria by 2010 to generate 100 megawatts, making it one of the world’s biggest, the paper said. (Reporting by Yuko Inoue and Sachi Izumi; Editing by Hugh Lawson)