Japan’s Renova inks VPPA tied to 18 MW of solar

Japanese renewable power producer Renova Inc (TYO:9519) has signed a virtual power purchase agreement (VPPA) with an unnamed domestic consumer concerning the environmental value derived from future solar plants with a total capacity of 18 MW.

Under the 20-year agreement, made through wholly owned subsidiary Second Solar Power GK, the client will receive non-feed-in-tariff (FiT) non-fossil certificates created for the output of small-scale, distributed generation (DG) solar photovoltaic (PV) power plants.

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The electricity produced by the newly built solar plant will be sold to the wholesale electricity market.

Renova pointed out that the VPPA covers approximately 38 GWh of annual electricity production. Their commercial operation date (COD) has no specific date as of yet but it will be conducted sequentially.