Press Release

Development of 52.7MW Wood-Burning Biomass Power Plant in Fukuyama, Hiroshima Prefecture with Tentative Operation Commencement Date of May 2025

February 03, 2022
Chubu Electric Power Co.,Inc.
Inabata & Co., Ltd.
Taihei Dengyo Kaisha Ltd.
Tokyo Sangyo Co., Ltd.
Solariant Capital Co., Ltd.
Hitachi Zosen Corporation

Chubu Electric Power Co., Inc. ("Chubu Electric Power"), Inabata & Co., Ltd. (“Inabata”), Taihei Dengyo Kaisha Ltd. (“Taihei Dengyo”), Tokyo Sangyo Co., Ltd. (“Tokyo Sangyo”), Solariant Capital Co., Ltd. (“Solariant”) and Hitachi Zosen Corporation (“Hitachi Zosen”) announced today that they have concluded an anonymous association agreement (Note 1) with “Fukuyama Biomass Power Generation LLC” (“Project Company”) which was established by Solariant (Note 2), and that the Project Company concluded a project financing agreement.

The Project Company will construct and operate the wood-burning “Fukuyama Biomass Power Plant” with power output of 52.7 MW in Fukuyama, Hiroshima Prefecture, and aims to commence operation in May 2025.

The six companies will move forward with the project with the understanding and cooperation of the community residents as well as the various entities concerned.

(Note 1) A capital structure stipulated in Commercial Law in which multiple companies (silent partners) invest in an independent business and the profits that arise from the business are distributed in accordance with the investment ratio. The silent partners do not have any rights or obligations in the management of the business.
It is called an anonymous association, as the companies’ names are generally not revealed to any trading partners involved in the business.

(Note 2) The Project Company has also concluded anonymous association agreements with businesses other than the six companies above.

[Overview of the Project]

Location	124 Minooki-cho, Fukuyama-shi, Hiroshima Prefecture
Power output	52.7 MW
Estimated annual power output	Approximately 380 million kWh (equivalent to approximately 120,000 ordinary households)
Fuel type	Wood pellets, wood chips (unused thinned wood produced in Hiroshima Prefecture, etc.)
Construction start date	December 2022
Scheduled start of operation	May 2025
Investment	Chubu Electric Power (50%), Inabata (23.2%), Taihei Dengyo (12%), Tokyo Sangyo (10%), Solariant (2%), Hitachi Zosen (2%), other anonymous association investors (0.8%)
Financing	Project financing arranged through Sumitomo Mitsui Trust Bank, Limited

[Illustration of Completed Plant]

Established	March 2017
Location	6-10-1 Roppongi, Minato-ku, Tokyo
Representative	Functional manager Kitagawa Hisayoshi
Business	Development, construction, operation, maintenance management, etc. of the biomass power generation equipment

Chubu Electric Power Co., Inc.

Established	May 1951
Location	1 Higashi-shincho, Higashi-ku, Nagoya-shi, Aichi Prefecture
Representative	President & Director Hayashi Kingo
Business	Renewable energy projects, overseas projects, community support infrastructure-related projects, etc.

Inabata & Co., Ltd.

Established	Jun 1918
Location	1-15-14 Minamisenba, Chuo-ku, Osaka-shi, Osaka Prefecture
Representative	President & Director Inabata Katsutaro
Business	Sales and manufacturing of products in the fields of information electronics, chemicals, consumer goods, and synthetic resin, etc.

Taihei Dengyo Kaisha Ltd.

Established	March 1947
Location	2-4 Kanda Jinbocho, Chiyoda-ku, Tokyo
Representative	President & Director Nojiri Jo
Business	Construction and maintenance of thermal/nuclear power stations, iron manufacturing-related facilities, environmental maintenance facilities, chemical plants, etc., and dismantling and decommissioning of various plant facilities, etc.

Tokyo Sangyo Co., Ltd.

Established	April 1942
Location	2-2-1 Otemachi, Chiyoda-ku, Tokyo
Representative	President & Director Kambara Minoru
Business	Domestic sales and trade transaction of various equipment, plants, materials, tools, chemicals, etc.

Solariant Capital Co., Ltd.

Established	September 2015
Location	6-10-1 Roppongi, Minato-ku, Tokyo
Representative	President Daniel Kim
Business	Designing, planning and managing renewable energy power generation projects, etc.

Hitachi Zosen Corporation

Established	May 1934
Location	1-7-89 Nankokita, Suminoe-ku, Osaka-shi, Osaka Prefecture
Representative	President & COO Mino Sadao
Business	Plant businesses including designing, procurement, construction, and operation of waste to energy plants and water treatment plants; machine/infrastructure-related businesses, etc.

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