JFE Engineering Corp, a unit of JFE Holdings Inc, will enter the solar thermal power plants business, business daily Nikkei reported.
The engineering facilities manufacturer expects 20-30 billion yen ($247.2-$370.8 million) in revenue from the sector by 2015, the newspaper said.
JFE Engineering expects to have a commercial version of its technology ready by 2012 and sees orders streaming in by 2013, the business daily reported.
The company, which started developing solar thermal technology last year, is ready to invest 300-400 million yen to build a large-scale pilot plant, the Nikkei said.
The plant will be capable of generating 200-300 kilowatts (KW) of power and will be located in Yokohama, the newspaper reported. ($1 = 80.895 Japanese Yen).