Development of 50-MW Wood-Burning Biomass Power Plant in Gamagori City, Aichi Prefecture with Tentative Operation Commencement Date of August 2023

Chubu Electric Power Co., Inc. (President: Satoru Katsuno; head office in Higashi-ku, Nagoya City; "Chubu Electric Power"), Marubeni Corporation (President: Masumi Kakinoki; head office in Chuo-ku, Tokyo; "Marubeni"), and SB Energy Corp. (President: Shigeki Miwa; head office in Minato-ku, Tokyo; "SB Energy") reached an agreement to develop the "Aichi Gamagori Biomass Power Plant" in Gamagori City, Aichi Prefecture, through a jointly-established special-purpose corporation, "Aichi Gamagori Biomass Power Generation LLC" (Project Company). The Project Company and Gamagori City also concluded an environmental conservation agreement.

The Project Company will construct and operate a wood-burning biomass power plant in Gamagori City, Aichi Prefecture that will generate 50 MW. We will collaborate closely with Gamagori City regarding pollution control and environmental conservation efforts based on the environmental conservation agreement, and will move forward with the project with the understanding and cooperation of the community residents as well as the various entities concerned, aiming to commence operations in August 2023.

[Profile of Aichi Gamagori Biomass Power Plant]

[Profile of Aichi Gamagori Biomass Power Generation LLC]