Mitsubishi secures a partnership to develop 50 MW biomass project in Japan

Mitsubishi UFJ Lease & Finance has secured a partnership with Chubu Electric Power Co Ltd, Solariant Capital LLC and Bio Fuel Co Ltd, creating a Joint Venture called Kamisu Biomass Power Generation LLC, to develop a 50 MW biomass project in Ibaraki prefecture.

The Kamisu Biomass Power Generation LLC has secured a loan arranged by Sumitomo Mitsui Trust Bank.

The biomass plant is expected to generate about 350 million kWh of clean electricity per year through the use of palm kernel shells. The construction will start in December 2020 and expected to be completed in July 2023.