ITOCHU Announces Biomass Power Generation Business in Hyuga City, Miyazaki Prefecture
April 15, 2021
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it has made a decision to establish Hyuga Biomass Power Co., Ltd., a business operation company funded jointly by Osaka Gas Co., Ltd. (headquartered in Chuo-ku, Osaka; Masataka Fujiwara, President and Representative Director; hereinafter "Osaka Gas"), Tokyo Century Corporation (headquartered in Chiyoda-ku, Tokyo; Makoto Nogami, President & CEO, Representative Director; hereinafter "Tokyo Century"), and Tokyo Energy & Systems Inc. (headquartered in Chuo-ku, Tokyo; Tsutomu Kumagai, President; hereinafter "Tokyo Energy & Systems") to construct a biomass power plant in Hososhima Industrial District in Hyuga City, Miyazaki Prefecture.
In this project, ITOCHU will provide a long-term supply of wood pellets and Green Power Fuel Corporation (hereinafter "GPF") of Osaka Gas Group will provide domestic woodchips.
In addition, Tokyo Energy & Systems will take a role in operation and maintenance, while Daigas G&P Solution Co., Ltd. (hereinafter "DGPS"), a 100% subsidiary of Osaka Gas, and Tokyo Energy & Systems will take a role in the owner's engineering.
Part of the funds required for the construction and operation of the project will be procured through project financing.
Located in Hyuga City, the Hososhima Port is a large-scale public port in Miyazaki Prefecture. The port allows the project to establish an effective fuel transportation system, together with its local partners. By combining each company's expertise, ITOCHU aims to achieve long-term and stable business operation.
ITOCHU has set "Enhancing our contribution to and engagement with the SDGs through business activities" as one of the Basic Policies in its medium-term management plan, and is actively focusing on the renewable sector.
Along with the various renewable power generation businesses, ITOCHU is also committed to develop the next generation power solutions utilizing energy storage devices that will play an important role in ensuring a consistent supply of renewable energy.
Outline of Company and Business
|Corporate name||Hyuga Biomass Power Co., Ltd.|
|Investment ratio||ITOCHU: 35%*, Osaka Gas: 35%,
Tokyo Century: 25%, Tokyo Energy & Systems: 5%
|Location||1-2, Hirano-machi 4-chome, Chuo-ku, Osaka, Japan|
|Business Activities||Supply of electricity|
|Planned construction site||Hososhima Industrial District in Hyuga City, Miyazaki|
|Power generating capacity||50 MW|
|Fuel used||Imported wood pellets, domestic woodchips and others|
|Administration of the construction||Mitsubishi Power, Ltd.|
|Operation and maintenance||Tokyo Energy & Systems|
|Fuel supply||ITOCHU, GPF|
|Domestic logistics||Hakko Transportation|
|Owner's engineering||DGPS, Tokyo Energy & Systems|
|Start of operation||November 2024 (planned)|
- *Via Aoyama Solar Co., Ltd., a 100% subsidiary of ITOCHU
Planned construction site