Consortium of Japanese Energy Companies Acquire 50 MW Tahara Biomass Project From Solariant Capital
PASADENA, Calif., April 8, 2022 (Newswire.com) - Solariant Capital, LLC ("Solariant"), a renewable energy investment and development company headquartered in Pasadena, CA, is pleased to announce that a consortium of Japanese companies including Japan Petroleum Exploration Co., Ltd. (JAPEX), Shizuoka Gas & Power Co., Ltd., TOKYO ENERGY & SYSTEMS INC., Kawasaki Kinkai Kisen Kaisha, Ltd., Daiichi Jitsugyo Co., Ltd., and Iwatani Corporation entered into an agreement with Solariant to acquire its 50.0 MW Tahara Biomass Power Plant project (the "Project"). Solariant will retain a minority interest in the project company, Tahara Bio-power LLC (the "LLC").
The consortium has closed financing and initial funding for the Project, which will be constructed in the Tahara 4th district in the coastal area of Tahara City, Aichi prefecture. The project is promoted through the LLC by the seven companies, which have strengths in renewable energy including biomass energy.
The Project will provide a stable electricity supply from renewable energy resources and meet expectations by the local government that aim to develop a city with lower environmental impact. The power plant is fueled by wood pellets and will have a net power output of 50,000kW. The construction of the power plant is planned to start in October 2022 and commercial operation is expected in April 2025.
The consortium of companies will cooperate and support the Project, including building and maintaining relationships with the community and local governments. Also, the seven companies will be entrusted with project work based on the capabilities of each company, including fuel procurement, transportation and management of fuels, construction management, and operations and maintenance after commercial operation.
The seven companies and the LLC will contribute to expanding the use of electricity from renewable energy sources and local economic development with the understanding and support of stakeholders in the surrounding area.
About Solariant Capital, LLC. Solariant Capital is an experienced utility-scale renewable energy development and investment company focused on utility-scale solar, energy storage, and biomass power plant projects in Asia and the United States with offices in Pasadena, CA, Tokyo, Japan, Seoul, Korea, and Manila and Bislig, Philippines. https://solariant.com
Solariant Capital, LLC
Source: Solariant Capital, LLC