ITOCHU Corp creates new biomass firm, plans to build 50 MW plant
The new firm is funded jointly by Osaka Gas Company, Tokyo Century Corporation, and Tokyo Energy & Systems and will construct a biomass power plant in Hososhima Industrial District in Hyuga City in Miyazaki.
Under this project, ITOCHU will provide a long-term supply of wood pellets and Green Power Fuel, of Osaka Gas, will provide domestic woodchips. Additionally, Tokyo Energy & Systems will take on operation and maintenance, while Diagas G&P Solution, a 100% subsidiary of Osaka Gas, and Tokyo Energy & Systems, will take a role in the owner’s engineering.
Part of the funding required for the construction and operation of the project will be procured through project financing. The facility is expected to be operational in November 2024.