
Marubeni Power Retail and Shanghai Ghrepower Green signed a Memorandum of Understanding (MoU) agreeing to work together on the development of wind power plants in Japan, the former announced on October 7, 2024.
In the MoU, the companies outlined a scheme in which GHRE and its development partners will develop wind power plants and transfer them to power generators. Marubeni Power Retail will then, until December 2026, have exclusive negotiating rights to purchase the generated power and renewable energy certificates from up to 50MW of those power plants through 20-year PPAs.
Marubeni Power Retail plans to use the power to supply its growing base of customers looking to purchase renewable power. In addition to offering renewable power retail plans, the Japan Energy Hub PPA database shows that Marubeni Power Retail has signed numerous PPAs including a 5MW virtual PPA with Tokyo Metro earlier this year. Overall, the retailer aims to grow the renewable capacity it handles to 5GW by 2030.