PowerX Co., Ltd. Signed wholesale renewable energy supply contract with Marubeni New Electric Power Co., Ltd.

[PowerX Co., Ltd.] Signs wholesale renewable energy supply contract with Marubeni New Power Co., Ltd. ​
PowerX Co., Ltd. Press release: September 27, 2024 Signed wholesale renewable energy supply contract with Marubeni New Power Co., Ltd. Power , head office: Chiyoda-ku, Tokyo, hereinafter “Marubeni New Power”) has a renewable energy wholesale contract to stably supply power derived from renewable energy (hereinafter “renewable power”) procured by Marubeni New Power to PowerX. concluded. Based on this agreement, from October 2024, Marubeni New Power will act as a specified wholesaler and bundle renewable energy from FIP and Non-FIT solar power generation facilities (approximately 3MW in panel capacity) owned by multiple power generation companies. It will be supplied to PowerX, a retail electricity provider. Marubeni New Power has recently started a wholesale renewable energy supply service that bundles and supplies renewable energy procured from multiple power generation companies to retail electricity companies. We will supply competitive renewable energy to our customers by leveraging our renewable energy sourcing capabilities cultivated through corporate PPAs. Marubeni New Power will continue to supply renewable energy to a wide range of customers while gradually increasing the amount of renewable energy it handles with the goal of reaching approximately 5 million kW in 2030. Including this project, we will contribute to the realization of a decarbonized and sustainable society. Power X-PPA proposes the introduction of renewable energy that is reasonable and easy to implement in accordance with the needs of customers by combining renewable energy power with grid power storage stations that use our own products. As a power source for this purpose, we will utilize renewable electricity procured from Marubeni New Power under this agreement. PowerX will continue to work towards achieving
decarbonization through its storage battery business and electric power business. ■Scheme diagram
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■About PowerX Co., Ltd. Name: PowerX Co., Ltd. Establishment date: March 2021 Representative: Director, Representative Executive Officer, President and CEO Masahiro Ito Location: 43rd floor, Midtown Tower, 9-7-1 Akasaka, Minato-ku, Tokyo Capital: 15,946 million yen (including capital reserve) Business content: Manufacture and sale of large storage batteries EV charging station service development Development and manufacturing of electric carriers Power supply from renewable energy etc. Development and operation of grid energy storage stations URL: http://power-x.jp/ ■About Marubeni New Power Co., Ltd. Name: Marubeni New Power Co., Ltd. (100% consolidated subsidiary of Marubeni Corporation) Establishment date: January 2011 Representative: Representative Director Akira Suda Address: Marubeni Building, 1-4-2 Otemachi, Chiyoda-ku, Tokyo Capital: 100 million yen Business details: Electricity buying and selling business, agency, agency, intermediary, etc. URL: https://denki.marubeni.co.jp/