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RENOVA Concludes PPA with Suzuyo Shoji on Power Generated by Non-FIT Solar Plant

After the establishment of the Green Transformation (GX) Division in April 2022, in the Non-FIT based renewable energy power generation business, the Company concluded a physical PPA with Tokyo Gas Co. Ltd. in August of the same year.

July 03, 2023. By Anurima Mondal

RENOVA Inc. has concluded a power purchase agreement (PPA) to directly sell Suzuyo Shoji Co. Ltd. electric power generated by new solar power plants to be developed by the Company. The agreement has already taken effect.

With a mission of creating green and sustainable energy systems for a better world, RENOVA operates its power generation business based on locally entrenched renewable energy resources such as solar, biomass, wind, geothermal and hydraulic power.

After the establishment of the Green Transformation (GX) Division in April 2022, in the Non-FIT (PPA between companies, FIP, etc.)-based renewable energy power generation business, the Company concluded a physical PPA with Tokyo Gas Co., Ltd. in August of the same year and with Evergreen Marketing Co. Ltd. in January 2023, and concluded a virtual PPA with Murata Manufacturing Co. Ltd.

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 decarbonisation and increase its corporate value through the development of new businesses in the area of decarbonisation.

The impact of the conclusion of this PPA on the financial results for the fiscal year ending March 31, 2024 will be minimal.

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Power purchase agreement (PPA)

Solar energy projects