Key Point of President's Regular Press Conference

Key Point of President's Regular Press Conference

November 2023 Regular Press Conference : President Hayashi's Message

November 28, 2023
Chubu Electric Power Co.,Inc.

  • I will be discussing the following matters today:
    • Acquisition of Jenex Group as Wholly Owned Subsidiary
    • Bluebonnet Renewal

Acquisition of Jenex Group as Wholly Owned Subsidiary

  • To begin, I would like to discuss the acquisition of Jenex Group as a wholly owned subsidiary.
  • In order to further promote the development of solar power stations, Chubu Electric Power has decided to make Jenex, Inc., Jenex Partners, Inc. and Japan Energy Next Corporation its wholly owned subsidiaries and entered into a share purchase agreement to acquire all outstanding shares of Jenex Group on November 22, 2023.
  • This is the first time that Chubu Electric Power has acquired a wholly owned subsidiary engaged primarily in solar power generation business.
  • Jenex Group is involved in the development, operation, maintenance, and management of solar power plants, and owns approximately 200 solar power plants mainly in five prefectures of the Chubu area, with a total output of approximately 83,000 kW.
  • Furthermore, Jenex Group has a high project development capability, planning to develop approximately 200 new solar power plants with a total output of approximately 110,000 kW by the end of FY2026.
  • By making Jenex Group a wholly owned subsidiary, Chubu Electric Power Group will strengthen Jenex Group's management base and accelerate the development of new solar power plants by combining our accumulated expertise in power plant development and operation.
  • We will also respond to our customers' growing needs for non-fossil values by utilizing the newly developed power sources for off-site PPA services provided by retail electric utilities.
  • Chubu Electric Power Group aims to achieve its renewable energy expansion target of over 3.2 million kW around 2030, as stated in our Management Vision 2.0.
  • As of the end of the first half of this fiscal year, the Group's total power generation capacity was approximately 780 MW, about 25% of the target. We will continue our efforts on accelerating the development of renewable energy sources and expansion of renewable energy promoted together with customers.
  • In accelerating the development of renewable energy sources, we are developing and expanding our holdings of new power sources such as hydroelectric power, offshore and onshore wind power, and solar power throughout Japan.
  • Most recently in this year, the Atsumi Wind Power Station began operation in September, and in October, the Seinaiji Hydroelectric Power Station, our 200th hydroelectric power station, began operation.
  • Furthermore, in addition to the development of new power sources, we will continue to make improvements to increase the output and power of existing power sources and to operate them more efficiently. Hydroelectric power stations, in particular, will undergo a series of improvements, such as reviewing the optimal power generation facilities and shortening the period of power generation outages, from the perspective of effective use of water resources.
  • In expansion of renewable energy promoted together with customers, we will further promote installation and maintenance by group companies, chiefly through Chubu Electric Power Miraiz, and enhance decarbonization services tailored to customer issues.
  • Chubu Electric Power Group positions renewable energy as one of the main power sources that can contribute to decarbonization and energy self-sufficiency, and we will continue to work together with local communities and customers to expand renewable energy, including through the collaboration with the new partners I mentioned today.

Bluebonnet Renewal

  • Next, I will discuss the renewal of Bluebonnet.
  • Bluebonnet was established in April 2002 as part of Chubu Electric Power's 50th anniversary project to provide local residents with a place to relax and enjoy a portion of the green space at Shin-Nagoya Thermal Power Station.
  • After more than 20 years of operation and a total of 1.85 million visitors, the garden will be closed as of December 24, and be reopened under the new name "Megrass Garden Nagoya" by April 2025.
  • The new name was chosen in the hope that it will be a place where people can feel various ways of circulation, such as touring the scenery, speculating ideas, and turning of the seasons.
  • This renewal will focus on three points: beautiful landscape design, special space beyond the emotional juncture and sustainable planting. As the garden with continuous evolution, we aim to create this garden where visitors can discover something new every time they visit.
  • In the meantime, Christmas events will be held next month, followed by a grand finale event on December 23 and 24.

  • Lastly, I would like to talk about the electricity power supply and demand this winter.
  • The supply-demand balance for electricity in the Chubu area this winter is expected to be 6.6% even in February, when the supply reserve ratio is at its lowest, ensuring the minimum 3% required for a stable supply of electricity.
  • On the other hand, it is necessary to keep a close watch on the increase in electricity demand due to lower temperatures, the decrease in supply capacity due to equipment trouble at large-scale power stations, and trends in fuel procurement due to tensions in the international situation.
  • Chubu Electric Power Group will continue to ensure a stable supply of electricity this winter by thoroughly managing the safety of our power stations as well as transmission and substation facilities, and by providing customers with services that enable them to use electricity efficiently.

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