Sekisui Chemical Co. will invest 90 billion yen ($610 million) to start mass production of flexible solar cells, taking over a former Sharp Corp. factory as Japan pushes to expand its renewable energy capacity.
The chemical maker will establish a new subsidiary, Sekisui Solar Film, to manufacture perovskite solar cells starting in 2027 at the Sakai City facility in Osaka Prefecture. The Development Bank of Japan will take a 14% stake in the venture.
The project received government backing through Japan’s GX Supply Chain Construction Support Program, which will cover half of the 314.5 billion yen total investment needed to reach gigawatt-scale production by 2029.
Sekisui aims to initially target public facilities like school gymnasiums that serve as evacuation centers during disasters, leveraging the lightweight panels’ ability to be installed on buildings with low load-bearing capacity. The company plans to later expand into the commercial market for factory and warehouse rooftops.
The move comes as Japanese manufacturers seek to catch up in the solar panel industry, currently dominated by Chinese producers. However, Sekisui faces technical challenges in scaling up the emerging perovskite technology while keeping costs competitive.
