By Kosaku Narioka
Sekisui Chemical plans to mass-produce light, flexible solar films as part of a government-subsidized $2 billion project.
The Japanese chemical company announced Thursday that it will establish a subsidiary in January to produce perovskite solar cells, which are light and flexible. The government-owned Development Bank of Japan will take a 14% stake in the venture.
Sekisui Chemical said the government will subsidize half of the project's total cost, amounting to 314.5 billion yen, equivalent to $2 billion. Production is expected to begin in April 2027.
As part of the project, Sekisui Chemical will acquire industrial property in Osaka from Sharp Corp. for Y25 billion.
Sekisui Chemical plans to begin selling perovskite solar films produced at its existing facilities in 2025.
The solar films are targeted for use on the roofs and exterior walls of factories and warehouses, as well as public-sector gymnasiums and other venues.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
December 26, 2024 04:47 ET (09:47 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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