RENOVA’s Ishinomaki Hibarino biomass plant postponed

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RENOVA's Ishinomaki Hibarino Biomass Power Plant, which had been planned to begin operation this month, is now scheduled to commence activity in March this year.
The plant, which is owned by Ishinomaki Hibarino Biomass Energy G.K., an equity method affiliate of RENOVA, has required additional time for final adjustments to the boiler and turbine facilities to ensure long-term stable operation at the plant.
FIT-based electricity sales have commenced during the period of trial operation, and the FIT electricity sales period is from June 2023 to May 2043.
Ishinomaki Hibarino Biomass Energy G.K. has received Liquidated Damages from the EPC due to the change for the start of commercial operation based on the EPC contract.
The impact on financial results for the current fiscal year (ending March 2024) is currently being examined, said RENOVA.

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