GLP to invest more than $100 million in rooftop solar panels in Japan
Global Logistic Properties Limited (GLP) will invest more than S$100 million (US$82 Million) in rooftop solar panels on twenty-two properties in Japan to promote renewable energy generation and create a new revenue stream.
Global Logistic Properties Limited (GLP) will invest more than S$100 million (US$82 Million) in rooftop solar panels on twenty-two properties in Japan to promote renewable energy generation and create a new revenue stream.
“As a leading developer of large-scale, modern and environmentally-friendly logistic facilities, we are delighted to announce the launch of this exciting project”, said Yoshiyuki Chosa, President of GLP Japan.
The investment will generate a levered Internal Rate of Return (IRR) of 17 percent or S$0.54 per kWh over a 20-year period.
With a market-leading position in Japan, China and Brazil, GLP qualified for the new feed-in-tariff scheme recently introduced by Japan’s Ministry of Economy, Trade and Industry, which permits property owners to install solar panels on their properties and sell the electricity generated to utility companies.
Yingli Green Energy Holding Company Limited will install the solar panels, estimated to generate a total of 29.6 megawatts (MW) per hour or 29,000 MW per annum, enough to power approximately 5,300 households annually.
Installation is scheduled to commence in April 2013, with panels expected to be fully operational about a year after. ADELENE WONG
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