Octopus Energy was selected by Gunma Prefecture as the retailer for a three-year corporate PPA that will supply power generated at a selection of the prefecture’s hydro power plants to local businesses, the company announced on January 16, 2025.
As part of the PPA, Octopus Energy will supply power generated at five Gunma Prefecture-owned hydro power plants totaling 24.47MW to 17 facilities owned by Beisia and others. Approximately 88GWh is expected to be supplied per year with most of the locations requiring 1GWh to 3GWh per year except for one in Ota City, which is expected to require 60GWh per year. Power supply will start in April 2025 and end at the end of March 2028.
The power plants that will be part of the PPA include Momono Power Plant (6.2MW), Hinatami Power Plant (1MW), Taguchi Power Plant (6MW), Shimokubo No. 2 Power Plant (270kW), and Souri Power Plant (11MW), which represent approximately 10% in terms of capacity of Gunma Prefecture’s 235MW, 33-plant hydro portfolio. Separately, the prefecture also owns three solar power plants totaling approximately 3MW.
“Octopus Energy will continue to strengthen its procurement of renewable energy sources nationwide and actively collaborate with local governments that are seeking to produce and consume green electricity locally,” said Octopus Energy’s CFO, who is also in charge of securing power generation assets, Daisaku Kaneko.
Octopus Energy was selected from a total of seven companies in a public request for proposal issued by the prefecture.
