Press Release
Operation commencement of the Tottori Prefectural Tsukuyone Hydro Power Station - Japan's first PFI project by a private enterprise in the concession method to redevelop and operate a publicly-run hydro power station -
August 27, 2020
Chubu Electric Power Co.,Inc.
The special purpose company "M&C Tottori Hydro Power Co., Ltd." (the "SPC"), established by Chubu Electric Power Co., Inc. ("Chubu Electric Power") in partnership with Mibugawa Electric Power Co., Inc., Chubu Co. Ltd. and Miho Technos Co., Ltd. (the "Three Partners"), has commenced the operation of the Tsukuyone Hydro Power Station, owned by Tottori Prefecture, on September 01, 2020.
In March 2019, Tottori Prefecture sought expressions of interest for a redevelopment and administration project (the "Project") for redeveloping four of the Prefecture's hydropower stations that has reached or passed half a century in operation, and transferring the operation rights of the plants to a special purpose company for a period of 20 years. Chubu Electric Power formed a consortium with the Three Partners to apply for the Project and successfully won a right of first negotiation in March 2020.
The SPC was subsequently formed in May 2020, and signed a specified business agreement with Tottori Prefecture in July 2020. This is Japan's first PFI project (Note 2) for hydro power facilities to be undertaken in the concession method (Note 1).
On September 01, 2020, the SPC takes over the operation of the Tsukuyone Hydro Power Station, one of the four hydro power stations already redeveloped and currently operated by Tottori Prefecture. The remaining three power stations will undergo redevelopment, starting in FY2021, and will go operational as their redevelopment work completes.
Chubu Electric Power has 197 hydro power stations and 38 dams across the Chubu region (as of the end of July 2020), having ensured safe operations for many years and successfully handling redevelopment and other works on numerous hydro power stations. Chubu Electric Power will tap into insights from these achievements to contribute to safe redevelopment and operation of hydro power plants by the SPC.
(Note 1) A method in which a public entity maintains ownership of a facility and transfers the facility's operation right to a private business
(Note 2) A public works project approach that uses private-sector's fund, management ability and technological capability (know-how) to design, construct, repair, update, maintain, manage and operate public facilities
Overview of four hydro power stations run by Tottori Prefecture
|
Name of station |
Location |
Operation commencement |
Power output |
Redevelopment commencement |
Operation resumption |
|---|---|---|---|---|---|
|
Tsukuyone |
In Wakasa-cho, Yazu-gun |
December, 1960 |
7,890kW |
Completed by Tottori Prefecture |
September, 2020 |
|
Oshika Daiichi |
In Misasa-cho, Tohaku-gun |
October, 1957 |
3,690kW |
2021 |
2024 |
|
Oshika Daini |
In Misasa-cho, Tohaku-gun |
April, 1958 |
4,990kW |
2021 |
2023 |
|
Hinogawa Daiichi |
In Hino-cho, Hino-gun |
January, 1968 |
4,300kW |
2022 |
2024 |
Overview of the special purpose company
|
Name |
M&C Tottori Hydro Power Co., Ltd. |
|---|---|
|
Investment ratio |
Chubu Electric Power Co., Inc. (47.2%), |
|
Location |
1061-6 Otsuka, Kotoura-cho, Tohaku-gun, Tottori |
|
Establishment |
May 15, 2020 |
|
Representative |
President Naoki Ito |
Corporate profiles
1 Chubu Electric Power Co.,Inc.
Headquarters:1 Higashi-shincho, Higashi-ku, Nagoya, Aichi, Japan
Established:May, 1951
Main Business:Electric utility and related enterprises, gas supply and thermal storage brokerage, on-site energy business, community support infrastructure business, data platform business, overseas consulting and investment, etc.
Representative:Kingo Hayashi, President and Director
2 Mibugawa Electric Power Co., Inc.
Headquarters:Tokyo Nihonbashi Tower, 2-7-1 Nihonbashi, Chuo-ku, Tokyo
Established:August, 1960
Main Business:Electric power generation and wholesale / distribution of electricity
Representative:President Naoki Ito
3 Chubu Co. Ltd.
Headquarters:1061-6 Otsuka, Kotoura-cho, Tohaku-gun, Tottori
Established:December, 1967
Main Business:Turfing, operation and management of parks and construction
Representative:President Masao Koshiba
4 Miho Technos Co., Ltd.
Headquarters:25 Showa-cho, Yonago-shi, Tottori
Established:July, 1958
Main Business:Construction, surveying, planning, design, supervising and consultation for civil-engineering projects; Sales, installation and other handling of solar, wind and other natural energy-powered equipment
Representative:President Kenichi Nozu
Photographs of power stations
Tsukuyone Power Station
Oshika Daiichi Power Station
Oshika Daini Power Station
Hinogawa Daiichi Power Station
