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Mitsui to build megasolar farm in Philippines with local partner

Japanese group embarks on first such venture in Southeast Asia with $60m project

Mitsui & Co. handles megasolar projects in the U.S. and Mexico. (Photo courtesy of the company)

TOKYO -- Japanese trading house Mitsui & Co. has chosen the Philippines as the site for the company's first megasolar project in Southeast Asia.

Mitsui has formed a renewable energy joint venture with Philippine utility Global Business Power. The solar project in the northern province of Rizal is expected to cost roughly 7 billion yen ($64.4 million), with Mitsui to foot about 40% of the bill.

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