Capital and Business Alliance between the Chubu Electric Power and Looop for the Utilization and Service Expansion of the Renewable Energy
September 28, 2018
Chubu Electric Power Co.,Inc.
Today, the Chubu Electric Power Co., Inc. (Headquarters: Higashi-ku, Nagoya City; President & Director: Satoru Katsuno; hereafter "Chubu Electric Power") and Looop Inc. (Headquarters: Taito-ku, Tokyo; President & CE: Nakamura Soichiro; hereafter "Looop") formed an alliance to better utilize renewable energy and expand related services in order to shape a society built on next-generational energy.
Along with this alliance, Chubu Electric Power acquired some of the shares allocated by Looop in a private placement today.
Chubu Electric Power and Looop will combine our customer bases and management resources to provide better services to our customers.
[Providing Photovoltaic Gneration Services Based on Customer Needs]
The photovoltaic generation services of Looop (development/procurement/O&M), Chubu Electric Power's retail services expertise, and the customer bases for both companies will be combined to provide the following diverse photovoltaic generation-related services in response to customer needs.
- Service that bundles the procurement, installment, O&M of photovoltaic generation facilities, and purchasing of surplus power that does not rely on the FIT system
- Demand and supply adjustment service that bundles photovoltaic generation facilities and storage batteries to stabilize the system
- Service for purchasing surplus power from customers whose guaranteed purchase agreements will be ending (residential photovoltaic generation facilities for which the FIT program guaranteed purchase agreement will be terminated after November 2019)
- Business model for the "local production for local consumption" of energy in cooperation with the new local utilities