America is far from the only nation benefiting from solar energy investment from companies in the sector. First Solar (NASDAQ:FSLR) announced today that it will devote roughly $100 million to building such assets in Japan. It will effect this through a local subsidiary, First Solar Japan GK, and its office in Tokyo.

The company pointed out that the government has set a target of installing 28 gigawatts of energy-producing capacity from solar power by 2020.

Japan is considered to be a prime market for renewable energy, following the equipment failure accident at its Fukushima Daiichi nuclear power plant in the wake of an earthquake and tsunami in March 2011. That incident was one of the most severe nuclear disasters in history. 

Fool contributor Eric Volkman has no position in First Solar. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.