The 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. 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, Japan. 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.
Solariant Capital, LLC is a renewable energy investment and development company headquartered in Pasadena, California.
