, Japan
108 view s

Equis secures $282m for Japan’s new biomass power plant

There is already a notice to proceed with the 50-MW Niigata East Port biomass project.

Asia-Pacific’s leading renewable energy and waste infrastructure developer, Equis Development Pte Ltd, announced that it has gathered $282m of non-recourse project financing for the 50-megawatt (MW) Niigata East Port Biomass Power Plant in Niigata, Japan.  

This non-recourse project financing was pledged by fourteen syndication banks and insurance companies, led by Sumitomo Mitsui Trust Bank and Daishi Hokuetsu Bank.

Construction work on-site will commence in May 2022. Its commercial operation in October 2024. The project is Equis’ third sustainable biomass project in Japan.

Equis divested a 20% interest in the project and formed a joint venture with Tohoku Electric Power Co. Inc. (Tohoku Electric). Tohoku Electric will act as the owner's engineer during the design and construction of the project. It will operate the project under a long-term operations and maintenance agreement. 

The project will generate all electricity from sustainable wood pellets or palm kernel shells, which is certified for chain of custody by independent certification organisations. These are recognised by the Ministry of Economy, Trade, and Industry and are supplied by a large Japanese trading company under a 20-year, fixed quantity and fixed-price contract.

The energy produced in the project will supply the needs of approximately 117,000 households and will save nearly 190,000 tonnes of greenhouse gas emissions per annum.

Equis’ Japan-based Investment Director Hiroyuki Moriuchi said, “We are thrilled to be partnering with Tohoku Electric, the largest power producer in the region to deliver a modern and clean baseload renewable power project to Niigata.” 

“Tohoku Electric is well respected in the region with a community-first approach as the project owner’s engineer, operation, and maintenance provider. The 50-MW Niigata East Port Biomass Power Plant is Equis’ third sustainable biomass project in Japan, and will utilise existing industrial infrastructure to create opportunities for the local community in the long term,” Moriuch added. 

Follow the link s for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition
Some steps they could take are implementing green tariffs and setting infrastructure funds.
Global clean energy tech market to hit $2t by 2035
This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

Exclusives

Coal-dependent ASEAN told to scale up RE generation
A regional power grid could help governments in their renewable energy transition.
Indonesia told to tap communities in clean energy transition
Solar and wind power managed by villages could generate 96 million jobs over 25 years.
Indonesia to add 90 MW geothermal capacity
Three power plants in West and East Java and North Sumatra will start operating this year.