Solariant Capital, a renewable energy investment and development company headquartered in California, has agreed to sell its 50 MW Tahara Biomass Power Plant project.
A consortium of Japanese companies including Japan Petroleum Exploration Co, Shizouka Gas & Power Co, Tokyo Energy & Systems, Kawasaki Kinkai Kisen Kaisha, Daiichi Jitsugyo, and Iwatani Corporation have entered into an agreement with Solariant to acquire its biomass project in Japan’s Aichi prefecture.
The consortium has closed financing and initial funding for the project, which will be constructed in the coastal area of Tahara City. The project will provide a stable electricity supply from renewable energy resources and support the local government’s aim to develop a city with a lower environmental impact.
The plant will be fuelled by wood pellets and have a net power output of 50 MW. Construction is expected to begin in October and commercial operation is expected in April 2025.
In February, a consortium of Japanese companies agreed to acquire Solariant’s planned 52.7 MWp biomass power plant – Fukuyama Biomass Power Plant GK, which is expected to produce 380,000 GWh of electricity annually.