J-Power signs solar VPPA for Tokyo Metro in Japan

Japanese utility Electric Power Development Co Ltd (TYO:9513), or J-Power, has entered into a virtual power purchase agreement (VPPA) with major rapid transit system (MRT) firm Tokyo Metro Co Ltd.

The deal was inked by wholly owned subsidiary J-Solar Co Ltd and is tied to the 1.99-MW Himeji Oshio Solar Power Station, currently under development.

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J-Power said the solar park is expected to generate some 3.9 million kWh of clean power per year. Under the 20-year VPPA, Tokyo Metro will receive enough environmental value with additionally generated from this power plant constructed offsite to offset about 1,521 tonnes of carbon dioxide (CO2) annually, the company said in the press release.