Shizen Energy has signed a 20-year virtual power purchase agreement (VPPA) with Microsoft to provide renewable energy from a 25 MWac/31 MWdc solar farm in Inuyama City, Aichi Prefecture, Japan.
JUWI Shizen Energy is currently in the process of constructing a 25 MW solar power plant. This project is set to become the largest single-asset solar power plant contracted under a virtual corporate Power Purchase Agreement (VPPA) in Japan to achieve financial close. The plant is scheduled to commence operations in December 2023. The development and construction have been funded through a non-recourse finance of JPY10.9 billion (US$72.95 million) from Société Générale.
Toshiba ESS will manage the electricity generated from this solar power plant, which is developed and operated by Shizen Energy in Inuyama. Toshiba ESS will sell the power to the market as an aggregator. Shizen Energy will oversee the overall coordination, financing, and asset management of the project, while JSE will handle development, engineering, procurement, and construction. JUWI Shizen Energy Operation will be responsible for operations and maintenance.
