Japanese renewable energy company Renova Inc has signed a 20-year power purchase agreement (PPA) to supply renewable power to local petroleum products manufacturer and distributor Suzuyo Shoji Co. Ltd.
As per the agreement, Renova will supply electricity derived from new solar power plants, to be developed by the firm. The solar photovoltaic (PV) plants will have a total capacity of 1 MW (Megawatt).
The firm said that the new small-scale distributed generation (DG) solar projects would be implemented under Japan’s Non-feed-in-tariff (FiT) programme. Non-FIT non-fossil certificates would also be sold under this PPA.
Further, it said that First Solar Power GK, Renova’s wholly-owned subsidiary, will operate the solar systems. The solar capacity can be expanded in the future, per the firm’s statement.
“The company will continue to supply renewable energy in response to the needs of consumers, including companies and local governments that support RE100, while at the same time striving to encourage decarbonization and increase its corporate value through the development of new businesses in the area of decarbonisation,” said the firm.
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