Looop Inc (Bunkyo-ku, Tokyo), which runs a business related to solar power generation, announced Nov 10, 2016, that it has started the "Looop FIT" service to guarantee 30 years of power sales.
Looop will purchase power generated by solar power generation systems that meet conditions set by the company for 30 years, which is 10 years longer than the purchasing period of the feed-in tariff (FIT) policy.
Looop decided to provide the service in response to the needs of power producers that have concern about power sales after the purchasing period of the FIT policy expires. Looop can offer the new service because it deals with comprehensive services including development and maintenance of solar power generation systems and runs a retail electricity business, the company said.
The new service is targeted at industrial solar power generation systems that are located on the ground, use Looop's "Nextough" solar panels and subscribe to its "Mamolooop" O&M (operation and maintenance) service. The Nextough features a long service life.
With the new service, Looop will purchase electricity at the same price as the FIT tariff for the first 20 years and at a price of ¥7/kWh or higher for the last 10 years.