Japanese energy developer and trading company Tomen Corp is to invest ´7 billion ($64.6 million) in a 32.5 MW wind project on the north-eastern tip of the main island. The wind farm will be Japan's largest to date and consist of 25, 1.3 MW turbines from Danish Bonus. Installation is planned by end November 2001 on a 500 hectare plot on the Shimokita Peninsula at the Strait of Tsugaru, Aomori Prefecture. The electricity will be sold to the local utility company, Tohoku Electric Power Co, under a 17 year power purchase agreement based on an average rate of ´11.5/kWh ($0.106/kWh). Tomen, which is working on several more plans for Japanese wind projects, already operates a 20 MW wind farm at Tomamae in Hokkaido, as well as several big wind farms in Europe and the United States.
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