Sojitz Corporation
Basic agreement regarding corporate PPA with Sojitz, Kansai Electric Power Company and JR West
~Japan’s largest initiative that combines power supply derived from renewable energy and provision of environmental value~
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Sojitz Corporation (hereinafter “Sojitz”), Kansai Electric Power Co., Inc. (hereinafter “Kansai Electric Power”) and West Japan Railway Company (hereinafter “JR West”) today announced a basic agreement (hereinafter “JR West”) regarding a corporate PPA (*1). (hereinafter referred to as the “Agreement”).
Based on this agreement, electricity and environmental value derived from renewable energy (hereinafter referred to as “renewable energy”) generated from solar power plants (hereinafter referred to as “power plants”) developed, owned and operated by Sojitz will be distributed through Kansai Electric Power Company. It is scheduled to be supplied as power for train operation on JR West’s major lines, including the JR Kyoto Line and JR Kobe Line. This is the largest corporate PPA project in Japan that combines the supply of electricity derived from renewable energy with the provision of environmental value. The Sojitz Group has developed and operated approximately 2,000MW of renewable energy power plants in Japan and overseas. Utilizing the knowledge gained through these activities, we are developing new renewable energy power plants in Japan that meet the needs of consumers, from distributed power plants that bundle multiple small-scale power plants to large-scale power plants. We will promote this initiative and provide the electricity and environmental value generated through corporate PPAs. We are also developing EV-related infrastructure projects such as EVs, EV charging equipment, and solar power generation in parking lots, as well as the storage battery business, and are developing a business model that provides “carbon-free solutions” that meet the diversifying needs of consumers. We will continue to build and expand it. Sojitz is working on the
“Sustainability Challenge” (*2), a long-term vision for 2050, and aims to achieve sustainable growth by taking on the challenge of realizing a decarbonized society through our business. We will contribute to the realization of a decarbonized society by collaborating widely with customers who wish to acquire electricity and environmental value derived from renewable energy, as well as investors who wish to acquire renewable energy assets. (*1) Corporate PPA (Power Purchase Agreement): A contract method in which a power generation company and a company (consumer) directly enter into a power purchase contract to supply and procure generated power and environmental value (*2) “Sustainability Challenge Please refer to the link below for details. Long-term vision for 2050 “Sustainability Challenge” | Sustainability key issues (materiality) | Sustainability | Sojitz Corporation (sojitz.com) (Reference) [Summary of this project]
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https://prtimes.jp/main/html/rd/p/000000226.000073843.html
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