RENOVA Inc. has announced the successful commencement of operations at the Omaezakikou Biomass Power Plant in Omaezaki City, Shizuoka Prefecture, Japan. The 75.0 MW facility, a joint venture project, began generating power on January 29, marking a significant step forward in Japan's renewable energy goals and promising economic benefits for the region.

The Omaezakikou Biomass Power Plant is fueled by sustainable wood pellets and palm kernel shells (PKS). This fuel source contributes to a reduction in reliance on fossil fuels and supports a more environmentally friendly energy mix. The plant's annual power transmission volume is estimated to be approximately 530,000,000 kWh, enough to power roughly 170,000 households annually. The power generated will be sold at a price of ¥24 per kWh.

This project is a collaborative effort spearheaded by Omaezakikou Biomass Energy G.K., a special purpose company funded by a consortium of prominent organizations. RENOVA holds a 38% stake in the venture and has the option to acquire an additional 18% from some co-sponsors, potentially bringing their total ownership to 56%. Other key investors include Chubu Electric Power Co., Inc. (34%), Mitsubishi Electric Financial Solutions Corporation (18%), and Suzuyo Shoji Co., Ltd. (10%).

The strategic location of the power plant within the Port of Omaezaki offers significant logistical advantages. The port's excellent access to Pacific Ocean shipping lanes, combined with its proximity to the Tomei and Shin-Tomei Expressways and Mt. Fuji Shizuoka Airport, makes it an ideal hub for receiving and handling fuel shipments. This prime location is expected to streamline operations and ensure a stable fuel supply for the plant.

The commencement of operations at the Omaezakikou Biomass Power Plant is anticipated to have a positive ripple effect on the local economy, particularly in the cities of Omaezaki and Makinohara. The increased activity at the port due to fuel carrier traffic will stimulate economic growth and create new job opportunities. Furthermore, the project contributes to Japan's broader efforts to increase its renewable energy usage ratio and achieve a decarbonized society.

The Omaezakikou Biomass Power Plant represents a substantial investment in renewable energy infrastructure and underscores the growing importance of biomass power generation in Japan's energy landscape. The project's success is a testament to the collaborative efforts of the participating companies and their shared vision for a cleaner and more sustainable future. RENOVA, along with its partners, is confident that this power plant will play a crucial role in achieving Japan's decarbonization goals and contribute to the economic prosperity of the region.