Renova increases stakes in 75 MW Kanda biomass power generation project

Renova Inc plans to increase stakes in the Kanda Biomass Energy project in Fukuoka Prefecture in Japan with the stock held by Veolia Japan KK. 

The 75 MW biomass power plant project is located in 1-3, Shinmatsuyama, Kanda-machi in Miyako-gun. Sumitomo Forestry Co Ltd holds a 41.5% interest, while the other investors are Veolia Japan KK with 10%, Kyuden Mirai Energy Co Inc with 5%, and Mihara Group KK with 0.43%.

Following the purchase from Veolia, Renova will have a consolidated interest in the project of 53.07% from 43.07%. The project has started commercial operation on July 15, 2021.