
On September 27, 2024, Cosmo Eco Power, TEPCO Energy Partner, and Tokyo Metro signed a virtual PPA involving Cosmo’s Himekami Wind Park, the companies announced on October 15, 2024.
As part of the 15-year PPA, Cosmo Eco Power will sell 21GWh worth of non-fossil certificates generated at the onshore wind power plant to TEPCO Energy Partner, which will then sell them on to Tokyo Metro together with power, each year. Cosmo Eco Power will sell the generated power into the wholesale power market.
The PPA with Tokyo Metro follows an offsite PPA involving the 18MW Himekami Wind Park announced by Cosmo Eco Power earlier this year. The scale of the deal with Panasonic Operational Excellence was not disclosed.
Himekami Wind Park is located in Morioka City, Iwate Prefecture. The project commissioned in April 2019 and consisting of nine 2MW turbines was originally monetized using the feed-in-tariff (FIT) scheme. In order to use the power plant for virtual PPAs, Cosmo Eco Power needed to take it off the FIT scheme, which guaranteed it a fixed revenue of approximately 20 yen/kWh, depending on when the power plant was first FIT certified.
According to the Japan Energy Hub PPA database, Tokyo Metro previously disclosed four other virtual PPAs including a 5MW deal with Marubeni Power Retail involving small-scale hydro power plants.
Correction (October 16, 2024): An earlier version of this story incorrectly indicated the PPA with Panasonic Operational Excellence to be virtual.