Renova delays 50-MW biomass plant’s start again

This is expected to affect the profit attributable to owners of the parent company.

Renova Inc. has once again moved the commencement date of its 49.9-MW Karatsu Biomass Power Plant from March to September to give more time for adjustments to the boiler and turbine facilities.

In a statement, the company said this will ensure long-term stable operation at the plant.

Renova equity method affiliate Karatsu Biomass Energy G.K. (Karatsu G.K.), owner of the plant, is expected to receive liquidated damages from the EPC for a certain period due to the change in the start of commercial operation based on the contract.

FIT sales period is expected to be until 30 November 2044.

The schedule change is expected to affect the gain on remeasurement to the fair value of pre-existing interest in business combination anticipated to be recorded this fiscal year ending 31 March 2025. It is also expected to impact the profit attributable to owners of the parent company.