
Renewable Japan, a publicly traded renewable energy developer and O&M services provider, saw its portfolio of power plants under the feed-in-tariff (FIT) scheme shrink slightly and non-FIT portfolio grow to over 25MW (all adjusted for ownership share) in the first half of 2024, the company reported in its earnings presentation.
At the end of 2023, Renewable Japan owned 298.4MW of renewable assets. That has decreased to 292.4MW as of the end of June 2024, and is expected to decrease further to 288.7MW by the end of the year. The company’s target is to maintain the portfolio at approximately 300W for the time being.
The company’s portfolio of non-FIT power plants, which includes those operating under the feed-in-premium (FIP) scheme, grew from 8.8MW at the end of 2023 to 25.9MW as of the end of June 2024. The company plans to double the size of the portfolio to 50MW by the end of the year. Among other projects, Renewable Japan commissioned a 1.8MW non-FIT solar power plant in Ishikawa Prefecture in May 2024.
According to the presentation, Renewable Japan also has 72.3MW of projects under development including one solar project in Tohoku, Chubu, and Kyushu each, one wind project in Chubu, and one hydro project in Tohoku.
The Japan Energy Hub PPA database shows that the company has also been pursuing corporate PPAs. Among others, it signed a 2.7MW deal with Yasuda Real Estate last year.