Japan’s Renova inks VPPA attached to 6 MW of solar PV

Japanese renewable power producer Renova Inc (TYO:9519) has signed a virtual power purchase agreement (VPPA) with Otsuka Corp (TYO:4768) in connection with the environmental value derived from future solar plants with a total capacity of 6 MW.

Specifically, Otsuka, which is an information services and computers company, will receive non-feed-in-tariff (FiT) and non-fossil certificates as part of the newly signed contract.

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The certificates will come from small-scale, distributed generation (DG) solar PV power plants. Renova pointed out that the actual output will be sold to the wholesale electricity market.

The 30-year contract is for 13 GWh of annual electricity production.

Construction is set to commence at several sites in the fiscal year through March 2024, while commissioning will take place by the end of March 2026.