Press Release

Press Release

Construction of 7.1 MW Wood-Fired Biomass Power Plant in Minokamo City, Gifu Prefecture: Operation Set to Commence in October 2023

May 12, 2021
Chubu Electric Power Co.,Inc.
Sago Co., Ltd.
Mitsubishi HC Capital Inc.

Chubu Electric Power Co., Inc. (President & Director: Kingo Hayashi; Head Office: Higashi-ku, Nagoya; "Chubu Electric Power") and Mitsubishi HC Capital Inc. (President & CEO: Takahiro Yanai; Head Office: Chiyoda-ku, Tokyo; “Mitsubishi HC Capital”) are pleased to announce that they have agreed to invest in Minokamo Biomass Plant LLC (“Project Company”) established by Sago Co., Ltd. (President & Director: Ryuji Sago; Head Office: Minokamo City, Gifu Prefecture; “Sago”) and develop the Minokamo Biomass Plant (“Power Generation Project”), and that the Project Company signed a Pollution Control Agreement with Minokamo City today.

This Power Generation Project is to construct and operate a wood-fired biomass power plant in Minokamo City, Gifu Prefecture that will produce an output of 7.1 MW, mainly utilizing for fuel unused thinned wood harvested in Gifu Prefecture.

Chubu Electric Power, Sago, and Mitsubishi HC Capital are promoting initiatives to realize a carbon-free society. They will contribute to decarbonization and reduction of our environmental footprint by working through this power generation project to recycle resources in Japan.

Based on the Pollution Control Agreement, the three companies will work closely with Minokamo City on pollution prevention and environmental conservation initiatives, and implement the Power Generation Project with the understanding and cooperation of the local community and other stakeholders.

[Profile of Minokamo Biomass Plant]

Location

37-27 Aza-Awaji, Izenyuukai, Hachiya-cho Shimohachiya, Minokamo-shi, Gifu Prefecture

Former site occupied by the Kamosei Garden Crematorium in Minokamo City

Power output

7,100kW

Estimated annual power output

Approximately 50 million kWh
(equivalent to approximately 16,000 ordinary households)

Fuel type

wood chips

Construction Start Date

January 2022

Scheduled start of operation

October 2023

Investment

Chubu Electric Power (40%), Sago (30%), Mitsubishi HC Capital (30%)

Financing partners

Juroku Bank, Ltd. and Ogaki Kyoritsu Bank

[Profile of the companies]

Minokamo Biomass Plant LLC

Established

November 2019

Location

450-1 Shimokobi, Kobi-cho, Minokamo-shi, Gifu Prefecture

Representative

Administrator Kunio Kataoka (Chubu Electric Power)

Business

Business of developing, constructing, operating, maintaining, and managing biomass power generation facilities, etc.

Chubu Electric Power Co., Inc.

Established

May 1951

Location

1 Higashi-shincho, Higashi-ku, Nagoya-shi, Aichi Prefecture

Representative

President & Director: Kingo Hayashi

Business

Electricity and related businesses, gas business, community support infrastructure, etc.

Sago Co., Ltd.

Established

Jun 1967

Location

450-1 Shimokobi, Kobi-cho, Minokamo-shi, Gifu Prefecture

Representative

President & Director Ryuji Sago

Business

Forestry, environmental, household furnishings, housing, and other businesses

Mitsubishi HC Capital Inc.

Established

April 1971

Location

5-1, Marunouchi 1-chome, Chiyoda-ku, Tokyo

Representative

Representative Director, President & CEO Takahiro Yanai

Business

Leasing, installment sales, and various types of financing

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