RENOVA, Inc. (hereinafter “RENOVA”) hereby announces that Second Solar Power G.K,. a consolidated
subsidiary of RENOVA, has concluded an environmental value sale and purchase agreement (hereinafter “Virtual
PPA”), under which the environmental value derived from any electricity generated by newly built Solar PV power
plants to be developed by RENOVA Group will be directly sold to domestic consumer as non-FIT non-Fossil
Certificates. This agreement has already taken effect.
1. Purpose of the conclusion of the Virtual PPA
With a mission of creating green and sustainable energy systems for a better world, RENOVA operates its power
generation business based on locally entrenched renewable energy resources such as solar, biomass, wind,
geothermal and hydraulic power.
Since RENOVA established the Green Transformation (GX) Division in April 2022, it has been engaged in a NonFIT (Direct PPA, FIP, etc.) based renewable energy power generation business. At present, it has concluded
physical PPAs with multiple electric power retailers as well as virtual PPAs with companies which consume
generated electricity, with a cumulative maximum contracted capacity of approximately 170 MW.
RENOVA Group has concluded an agreement under which it will sell non-FIT non-Fossil Certificates derived from
its own renewable energy power plants over the long term to domestic consumer, which has resolved to reduce
CO2 emissions in its business activities. The non-FIT non-Fossil certificates to be sold under this agreement will
be derived from small-scale, distributed Solar PV power plants with additionality that will be newly developed by
RENOVA Group. The generated electricity will be sold to the wholesale electricity market.
RENOVA will continue to supply renewable energy in response to the needs of consumers, including companies
and local governments working on decarbonization, while at the same time striving to increase its corporate value
through the development of new businesses in the decarbonization area.
(Outline of the Virtual PPA)
Operator Second Solar Power G.K. (wholly owned by the Company)
Party to which non-fossil certificates
will be supplied Domestic consumer
Environmental value sales agreement
period 20 years
Annual electricity production (estimate) Approx. 38 GWh
Size of transaction 18 MW (AC base estimate, approx. 36 MW at a maximum at DC base)
Schedule The Commercial Operation Date (COD) will be achieved sequentially.
