ITOCHU : Announces Biomass Power Generation Business in Hyuga City, Miyazaki Prefecture
April 15, 2021 at 03:09 am
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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 Generation 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 'Contribute to and strengthen initiatives for the SDGs' 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 Generation 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
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Itochu Corporation published this content on 15 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2021 02:08:03 UTC.
Itochu Corporation is a diversified group organized around 8 areas of activity:
- distribution of food products (34.9% of net sales): frozen food, vegetable oil, sweeteners, sugars, etc.;
- distribution of hydrocarbons (23.3%): hydrocarbons (natural gas, oil products, bioethanol, etc.). The group also develops manufacturing of chemical products activity;
- manufacturing and sale of industrial and construction machines, vehicles and ships (9.7%);
- production of metals and coal (8.5%);
- sale of consumer products (8.4%). The group also develops forest products sale and real estate development activities;
- distribution of computing and telecommunication equipments (7%): data transmission, Internet access, media content broadcasting and mobile telephony equipments. The group also offers financial services;
- sale of textile products (3.6%);
- other (4.6%).
Net sales are distributed geographically as follows: Japan (79.5%), Singapore (5.4%), the United States (4.5%), Australia (3.1%), China (2.8%) and other (4.7%).