Monthly Report

Renova signs 36MW virtual PPA, total under development and operational solar PPA capacity now over 200MW

November 8, 2024
Renova Non-FIT
The virtual PPA signed in October 2024 will involve the development of multiple smaller-scale solar power plants. (Image: Renova)

Renova’s wholly-owned subsidiary Second Solar Power LLC signed a 20-year, 36MWDC/18MWAC virtual PPA with an undisclosed offtaker, the publicly traded renewable asset developer announced on October 31, 2024.

“The non-FIT non-fossil certificates to be sold under this agreement will be derived from small-scale, distributed solar power plants with additionality that will be newly developed by Renova Group,” said the company’s statement. The generated power, expected to be approximately 38GWh per year, will be sold in the wholesale power market with the counterpart procuring the required power from its retailer.

While Renova said the power plants that will be part of this PPA will be commissioned gradually, it did not disclose a specific timeline.

The latest deal brings Renova’s total to eight solar PPAs including three virtual, with the company’s total under development and operational non-FIT solar capacity being 207MWDC. Of the 207MWDC, 32.9MWDC was completed as of the end of FY2024 Q2 according to the company’s quarterly report. Details of each of the deals can be found in the Japan Energy Hub PPA database.

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