ITOCHU launches biomass power plant project in Ichihara
Friday, Sep 22, 2017
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced that ITOCHU, Osaka Gas Co., Ltd. (headquartered in Chuo-ku, Osaka; ‎Takehiro Honjo, Representative Director & President; hereafter “Osaka Gas”), and Mitsui Engineering & Shipbuilding Co., Ltd. (headquartered in Chuo-ku, Tokyo; Takao Tanaka, President, Representative Director; hereinafter “MES”) have agreed to launch a biomass power plant project at MES Chiba Works in Ichihara, Chiba Prefecture.

ITOCHU, Osaka Gas, and MES will newly establish an operating company named Ichihara Biomass Power Co., Ltd in a three-way joint venture.

Each company brings its strengths to this project. MES will provide its construction and its operation and maintenance capabilities, ITOCHU will procure the biomass fuel supply, and Osaka Gas will operate the power plant.

The project is financed through non-recourse project financing.

ITOCHU, Osaka Gas, and MES continue to pursue the deployment of renewable energy both domestically and internationally, in an effort to address global warming and contribute to the recycling-oriented society of the future.

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