Tsubakimoto Chain signed virtual PPAs with ORIX and Toshiba backed by newly developed solar power plants expected to generate approximately 15GWh per year combined, the companies announced on July 27, 2026.
According to the offtaker, delivery will begin in phases from FY2026. All of the environmental value will be used at the manufacturer’s Saitama Plant in Hanno City, Saitama Prefecture.
ORIX said it will aggregate 10 third-party-owned solar assets in the Tokyo TSO area with a combined capacity of approximately 7.7MW and expected output of about 9GWh per year.
Toshiba’s contract covers the sale of the non-fossil certificates (NFCs) associated with the surplus output of a 6MW portfolio installed on logistics facility rooftops for 20 years from October 2026. The company said the on-site consumption reaches only about 20% of total generation, leaving the remaining 80% available for the PPA and eligible for feed-in-premium (FIP) support.
While Toshiba has participated in several virtual PPAs as an aggregator before, the deal with Tsubakimoto Chain marks ORIX’s first such scheme involving third-party-owned assets.
The chain and power transmission maker designated its Saitama Plant as an environmental model factory, initially focusing its decarbonization efforts on the facility. It operates five other domestic manufacturing plants, two in Kyoto Prefecture and one each in Hyogo, Fukui, and Okayama prefectures. The company said it plans to expand virtual PPA procurement to other sites in the future.
