Toshiba announced on August 19 that the company and Chubu Electric Power, a Japanese electric company, have entered into an agreement whereby Toshiba will help the latter construct a large-scale solar photovoltaic power plant for industrial-use, the Nikkei reported on August 19. Pursuant to the agreement, Toshiba will implement pre-construction engineering work and procurement of key equipment and parts and plant construction for Chubu Elctric. The new plant, to be located at Chubu's existing Taketoyo thermal plant in Aichi Prefecture, is slated to begin operations in the autumn of 2011, with an output capacity of 7.5 megawatts. Financial detail of the deal was not yet disclosed but is estimated to reach around four billion Yen (US$42.4 million; US$1 = 93.8 Yen), according to the same source.