ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it has made a decision to construct a biomass power plant in Tahara Rinkai Industrial Zone the 4th District in Tahara City, Aichi Prefecture through Tahara Green Biomass LLC, an operating company funded jointly by Kyuden Mirai Energy Company, Inc. (headquartered in Fukuoka-shi, Fukuoka; Yutaka Mizumachi, President & Chief Executive Officer; hereinafter “Kyuden Mirai Energy”) and Tokyu Land Corporation (headquartered in Shibuya-ku, Tokyo; Masashi Okada, President & Chief Executive Officer; hereinafter “Tokyu Land”).

In this project, ITOCHU will provide a long-term supply of wood pellets, Kyuden Mirai Energy will have a role in the comprehensive provision of technical support for construction, operation, and other activities, and Tokyu Land will provide its operational expertise in the renewable energy power generation business. ITOCHU aims to achieve long-term and stable business operation.
Part of the funds required for the construction and operation of the project will be procured through project financing.

Tahara City, Aichi Prefecture, has been promoting the Tahara Eco Garden City Initiative under the basic philosophy of developing a prosperous and sustainable community that co-exists with the environment. We will contribute to this initiative through this renewable energy power generation project in the municipality.

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 its various renewable power generation businesses, ITOCHU is also committed to developing next-generation power solutions utilizing energy storage devices that will play an important role in ensuring a consistent supply of renewable energy.