Chubu Electric Power Co Inc, Mitsubishi UFJ Lease & Finance Co Ltd and Bio Fuel Co Inc (Koto-ku, Tokyo) announced Sept 30, 2019, that they will invest in Kamisu Biomass Power Plant GK, which was established by Solariant Capital LLC (Minato-ku, Tokyo).
The aim of the project is to build and operate a 50MW biomass power plant that combusts only woody fuel in Kamisu City, Ibaraki Prefecture, Japan.
The Kamisu Biomass Power Plant uses imported palm kernel shells (PKSes) as fuel and is expected to generate about 350,000,000kWh of electricity, which is equivalent to the amount consumed by 110,000 households, per year.
The biomass boiler and generator employed for the plant are products of General Electric Co and Toshiba Mitsubishi-Electric Industrial Systems Corp (TMEIC), respectively. The construction of the plant will begin in December 2020, and the plant is scheduled to start operation in July 2023.
This time, a loan contract was concluded through project financing (arranger: Sumitomo Mitsui Trust Bank Ltd). The amount of the loan was not disclosed. The investment ratios of Chubu Electric, Mitsubishi UFJ Lease & Finance, Solariant and Bio Fuel are 45%, 44%, 6% and 5%, respectively.