Fuyo General Signs First Lease Agreement for Solar Power Equipment

Fuyo Lease took on its first leasing of farming-type solar power generation equipment for Vitec Solar Energy, a group company of Vitec Holdings, which is engaged in the solar power business. The equipment generates solar power on land that is simultaneously used for farming.

The lease agreement is for equipment for the farming-type solar power generation plant (Vitec Tome Solar Power Plant) operated in the city of Tome, Miyagi Prefecture.

Farming-type solar power generation is a new system, with solar power equipment installed above farmland, while continuing to use the land to grow crops. Pole-mounted solar power generation equipment is installed above farmland for generating power, while at the same time growing crops. This type of system is also referred to as “solar sharing,” as sunlight is shared between power generation and crop cultivation.

While a permit for temporary land conversion is required in accordance with Japan’s Agricultural Land Act, this method is gaining attention for its ability to stabilize farm management and utilize idle farmland.

The lessee in the agreement, Vitec Solar Energy, is primarily responsible for operation and management of solar power generation within the Vitec Group, and plans to operate a total solar power generation capacity of 200 MW.

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