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Grasshopper Solar invests $80M in Japanese solar plant

Grasshopper Solar Corp. is investing $80 million in a 21.6-MW solar power project in Fukuoka, Japan.

Construction of the Iizuka plant is expected to begin in the fourth quarter. The project is anticipated to enter commercial operation by the third quarter of 2020, according to a Sept. 6 news release. The project will be developed by civil engineering and construction firm Setouchi Koken and its Japanese partners.

Upon completion, the solar facility will participate in Japan's feed-in tariff program with a 20-year ¥36/kWh contract from the Ministry of Economy, Trade and Industry.

"We chose Japan given the country's strong commitment to renewable energy reflected in public opinion and the regulatory and policy framework," Grasshopper Solar CEO Azeem Qureshi said.

Grasshopper Solar is a Canadian solar energy company.

As of Sept.6, US$1 was equivalent to ¥110.86.