
Photon Capital LLC tasked Electric Power Development Co., Ltd. (J-POWER) with aggregating the power generated by the former’s seven power plants associated with a 20MW (DC) virtual PPA signed in May 2024 with an undisclosed major Japanese manufacturer. ORIX Bank Corporation agreed to provided non-recourse financing for the project.
Photon will build the seven high-voltage power plants on unused land in the Hokkaido, Tohoku, and Chugoku TSO areas and deliver the generated renewable energy credits to its PPA counterpart. J-POWER will be responsible for managing the plants’ power generation including creating generation forecasts, balancing forecasted and actual generation, and trading the generated power on the market.
This is Photon’s second aggregation contract with J-POWER following one related to Photon’s 11.9MW (DC) virtual PPA with bearing manufacturer JTEKT inked in November 2023. Similar to the latest project, ORIX Bank agreed to provide non-recourse financing for the JTEKT project.
Both of the PPAs can now be found in the Japan Energy Hub CPPA module.