The companies will invest JPY35bn ($284m) in Kanoya Osaki Solar Hills company, which will build and operate the project.
The plant will be built on a 494-acre site spanning Kanoya City and Osaki Town in Kagoshima prefecture.
Kyocera will supply 340,740 solar modules for the project, which will generate around 99,230MWh of energy for about 30,500 homes and reduce 35,730 tons of CO2 emissions a year.
Gaia Power will have a 72.7% stake in the project, while Kyocera, Kyudenko and CTL will each hold 9.1% stakes.
Kanoya Osaki Solar Hills will operate the site, while the design, construction and maintenance of the solar installation will be undertaken by a joint venture established by Kyudenko and Gaia Power.
Century Tokyo Leasing will arrange financing. Construction work is due to commence in the second half of financial year 2015/16 with operations planned to start in financial year 2017/18.
The land development application and year-long environmental impact assessment for the project were submitted in April this year.
Image: Rendering of the Kanoya Osaki solar hills solar power plant. Photo: courtesy of KYOCERA Corporation.
