Keihan Holdings will procure power from a pair of floating solar power plants totaling 4MW to be developed by Environmental Resources Development Consultant Co. (ERC) on two reservoirs in Hirakata City, Osaka Prefecture. Kansai Electric Power Company (Kansai EPCO) will serve as the retailer sleeving the PPA.
The power plants are expected to commission within fiscal 2024 (i.e., by March 31, 2025).
The project is a public-private partnership between the three companies and the city as part of which, the city will use the reservoir usage fee paid by ERC for reviving its agriculture. ERC will be responsible for the development, construction, and operation of the power plants while Kansai EPCO will supply the generated power and renewable energy certificates, as well as power from other sources, to Keihan.
Keihan plans to use the power procured through this PPA at two facilities it owns in Hirakata City – Hirakata Park amusement park and KUZUHA MALL shopping mall. It expects the PPA to lead to an annual CO2 emission reduction of approximately 2,700 tons.
The project was awarded the Ministry of Economy, Trade and Industry’s subsidy for consumer-led solar power generation equipment installation, which covers between one and two thirds of eligible development and construction-related expenses.
According to Japan Energy Hub PPA Tracker, this is the first corporate PPA disclosed by Keihan Holdings.
