Golf courses converted to solar farms across Japan

The Japanese government introduced a system whereby electric utility operators are obligated to purchase electricity produced by solar farms, and other renewable sources, at fixed prices. The system started from July 1, 2012. In order to benefit from the program, suppliers must obtain approval by the Ministry of Economy, Trade and Industry (METI).

Under the feed-in tariff (FIT), utilities will enter into 20-year terms to from solar power suppliers. The purchase price of solar power is expected to be set at 42 Yen per kilowatt-hour.

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Mori Trust acquires famous Kyoto hotel

Mori Trust announced on November 25 that they had acquired the site of Hotel Rantei in Kyoto from Kyoto Century Hotel for an undisclosed sum.

The traditional Japanese-style hotel has been closed since January, 2010, but will undergo a full refurbishment before being re-opened as a luxury hotel by 2013 – 2014. Once it is opened, they hope to attract wealthy domestic and foreign tourists.

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