On March 5, 2025, Hokkaido Electric Power and Mitsubishi Corporation established Hokkaido Renewable Energy Aggregation, a joint venture that will focus on aggregating renewable assets in Japan’s northernmost prefecture.
According to a statement released on March 12, 2025, each of the companies owns a 50% share in the Hokkaido-based company. The company will aggregate both solar and wind assets and “flexibly adjust to customers’ demand by utilizing market transactions and others in order to maximize the abundant renewable energy potential in Hokkaido.”
According to the Ministry of Environment, 23.3% of Japan’s solar and 35.6% of wind power adoption potential is in Hokkaido. While majority of the installed capacity, such as Eurus Energy’s 434.5MW Dohoku project, is under the feed-in-tariff (FIT) scheme, which does not require generators to do balancing, going forward, the share of non-FIT assets that will require aggregation is expected to gradually increase.
Hokkaido EPCO and its group companies had about 60MW of operational and under development renewable projects as of the end of March 2024. By 2030, it aims to grow the portfolio by over 300MW. Mitsubishi Corporation acquired the Ireland-based aggregator and power trader ElectroRoute in 2022.
