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Business

Goldman Sachs group to build biomass power plants in Japan

Solar unit changes tack as government cuts generous incentive

An artist's image of Japan Renewable Energy's planned biomass power plant in Kamisu, Ibaraki Prefecture.

TOKYO -- A Japanese solar power company established by Goldman Sachs Group will expand into the biomass power generation business as profit margins decline at its main operations.

Japan Renewable Energy plans to build biomass power plants at 10 or more locations by 2020 by investing roughly 40 billion yen ($365 million). The total power generation capacity of those facilities is projected to reach 70,000 kilowatts.

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