Gunze enters solar power business

Kyodo

Apparel firm Gunze Ltd. said Friday it is jumping into the solar power business with an investment of about ¥1.7 billion and will use the feed-in-tariff scheme for promoting renewable energy.

Photovoltaic power generation panels with a capacity of 5.4 megawatts will be installed on roofs of the company’s plants and on its unused land in Hyogo, Tochigi and Fukushima prefectures, it said.

Gunze said it plans to sell electricity to utilities from September 2013 by using the feed-in scheme, which requires utilities to buy all electricity generated by anyone via renewable energy sources at fixed prices.