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 |
|---|---|
|
Power output |
7,100kW |
|
Estimated annual power output |
Approximately 50 million kWh |
|
Fuel type |
wood chips |
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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
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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.
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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 |