Press Release
Development of 50-MW Wood-Burning Biomass Power Plant in Kamisu City, Ibaraki Prefecture with Tentative Operation Commencement Date of July 2023
September 30, 2019
Chubu Electric Power Co.,Inc.
Mitsubishi UFJ Lease & Finance Company Limited
Solariant Capital LLC
Bio Fuel Co., Inc.
Chubu Electric Power Co., Inc. (President Satoru Katsuno; head office in Higashi-ku, Nagoya city; "Chubu Electric Power"), Mitsubishi UFJ Lease & Finance Company Limited (President & CEO Takahiro Yanai; head office in Chiyoda-ku, Tokyo; "Mitsubishi UFJ Lease & Finance") and Bio Fuel Co., Inc. (President & CEO: Akira Okamoto; head office in Koto-ku, Tokyo; "Bio Fuel") announce today that they reached an agreement to invest in Kamisu Biomass Power Generation LLC ("Project Company"), which was established by Solariant Capital LLC (President Daniel Kim; head office in Minato-ku, Tokyo; "Solariant"), and that the Project Company concluded a project financing agreement.
The Project Company will construct and operate a wood-burning biomass power plant in Kamisu city, Ibaraki Prefecture that will generate 50 MW.
The target operation commencement date is July 2023 and the project will proceed with the understanding and cooperation of the community residents as well as the various entities concerned.
Profile of Kamisu Biomass Plant
|
Location of power generation facility |
Okunoyahama Industrial Park, |
|---|---|
|
Power output |
50MW |
|
Projected annual output |
Approx. 350 MWh (equivalent to amount consumed by 110,000 ordinary households) |
|
Fuel type |
Palm kernel shells |
|
Construction start date |
December 2020 |
|
Operation start date |
July 2023 |
|
Investors |
Chubu Electric Power (45%), Mitsubishi UFJ Lease & Finance (44%),Solariant (6%) and Bio Fuel (5%) |
|
Financing |
Project financing arranged through Sumitomo Mitsui Trust Bank, Limited |
Company Profiles
[Kamisu Biomass Power Generation LLC]
Establishment:August 2016
Location:Toranomon Hills Mori Tower 18F, 1-23-1 Toranomon, Minato-ku, Tokyo
Representative:Senior Partner Solariant Capital LLC; President Daniel Kim
Business description:Designing, planning and managing renewable energy power generation projects, etc.
[Chubu Electric Power Co.,Inc.]
Establishment:May 1951
Location:1, Higashi-shincho, Higashi-ku, Nagoya-shi, Aichi Prefecture
Representative:President & Representative Director Satoru Katsuno
Business description:Electricity and ancillary businesses, gas business, community support infrastructure projects, etc.
[Mitsubishi UFJ Lease & Finance Company Limited]
Establishment:April 1971
Location:Shin-Marunouchi Building, 5-1 Marunouchi 1-chome, Chiyoda-ku, Tokyo
Representative:President & CEO Takahiro Yanai
Business description:Property leasing, property installment sales, various types of financing, international business
[Solariant Capital LLC]
Establishment:November 2015
Location:Toranomon Hills Mori Tower 18F, 1-23-1 Toranomon, Minato-ku, Tokyo
Representative:President Daniel Kim
Business description:Designing, planning and managing renewable energy power generation projects, etc.
[Bio Fuel Co., Inc.]
Establishment:March 2005
Location:30-13 Toyo 5-chome, Koto-ku, Tokyo
Representative:President & CEO: Akira Okamoto
Business description:Planning, designing, constructing, operating, servicing and maintaining fuel processing facilities, developing renewable energy resources, natural energy surveying and consulting, etc.