Chubu Electric Power Co.,Inc. | Development of a 74,950kW Wood-Burning Biomass Power Plant in the cities of Omaezaki and Makinohara in Shizuoka Prefecture with Tentative Operation Commencement Date of July 2023 - Press Releases(2019)
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Press Release 2019

Development of a 74,950kW Wood-Burning Biomass Power Plant in the cities of Omaezaki and Makinohara in Shizuoka Prefecture with Tentative Operation Commencement Date of July 2023

November 19, 2019

Chubu Electric Power Co.,Inc.

Chubu Electric Power Co., Inc. (President Satoru Katsuno; head office in Higashi-ku, Nagoya city; “Chubu Electric Power”), Mitsubishi Electric Credit Corporation (President Mamoru Fukayama; head office in Shinagawa-ku, Tokyo; “Mitsubishi Electric Credit”), and Suzuyo Shoji Co., Ltd. (President Masahiro Kato; head office in Shizuoka city, Shizuoka; “Suzuyo Shoji”) announced today that they reached an agreement to invest in “Omaezaki Port Biomass Energy LLC” (“Project Company”), which was established by RENOVA, Inc. (CEO Yosuke Kiminami; head office in Chuo-ku, Tokyo; “RENOVA”), and that the Project Company concluded a project financing agreement.

The Project Company will construct and operate a wood-burning biomass power plant in the cities of Omaezaki and Makinohara in Shizuoka Prefecture that will generate 74,950kW.

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 the Omaezaki Port Biomass Power Plant]

Location of power generation facility

Omaezaki Port and Shinsho, Makinohara city in Shizuoka Prefecture

Power output

74,950kW

Projected annual output

Approx. 530 MWh (equivalent to amount consumed by 170,000 ordinary households)

Fuel type

Wood pellets, palm kernel shells

Construction start date

April 2021

Operation start date

July 2023

Financing

Project financing arranged through Sumitomo Mitsui Trust Bank, Limited and Shinsei Bank, Limited.

[Profile of Omaezaki Port Biomass Energy LLC]

Establishment

January 2019

Location

2-2-1 Kyobashi, Chuo-ku, Tokyo

Representative

Representative partner RENOVA, Inc.
Functional Manager  Yusuke Nagai

Business description

Power generation though renewable energy, etc., supply and sales of electricity, etc.

Investors

RENOVA (38%), Chubu Electric Power (34%), Mitsubishi Electric Credit (18%), Suzuyo Shoji (10%)