ENEOS to Participate in a Large-Scale Solar Power Generation Business

Source: www.gulfoilandgas.com 6/10/2021, Location: Not categorized

ENEOS Corporation (“ENEOS”) announces that it will participate in a large-scale solar power generation business in Queensland, Australia.

ENEOS acquired 100% of the shares of Edenvale Solar Park Pty Ltd, which will operate the plant, from DPI Solar 3 Pte Ltd (“DPI”) through Sapphire Energy Pty Ltd, which is a joint venture with Sojitz Corporation (headquarters: Tokyo, Japan; Representative Director, President and CEO: Fujimoto Masayoshi; “Sojitz”). Construction began in June 2021.

This will be the first time ENEOS has developed a solar power generation business in Australia. The “DPI”) through Sapphire Energy Pty Ltd, which is a joint venture with Sojitz Corporation (headquarters: Tokyo, Japan; Representative Director, President and CEO: Fujimoto Masayoshi; “Sojitz”). Construction began in June 2021.

project has been under development since 2019 with DPI and Sojitz, a partner in the ongoing offshore wind power project in Taiwan. The module capacity of the newly constructed power plant will be 204 MW (ENEOS proportional capacity: 102 MW), the largest solar power plant for ENEOS. 70% of the power generated at the plant will be supplied to a local electricity retailer at a fixed price.

The site is located about 300 kilometers west of Brisbane, the state capital of Queensland. The climate of Queensland in general is said to be suitable for the solar power business due to its abundant solar radiation. The state government is targeting zero emission by 2050, and further expansion of renewable energy is expected in the state.

In the Long-Term Vision to 2040, ENEOS Group sets forth achievement of carbon neutral status in our own CO2 emissions. As part of our efforts to achieve this goal, ENEOS continues to work toward the expansion of renewable energy businesses in Japan and overseas, and aims to increase its generation capacity to over 1 GW by FY2022. This project is one of the initiatives to achieve the goal.

ENEOS is also striving to establish a supply chain for CO2-free hydrogen in Australia. To establish the supply chain, ENEOS continues to gain expertise in renewable energy development in Australia.

This initiative is consistent with United Nations Sustainable Development Goals (SDGs) 7. Affordable and clean energy, 11. Sustainable cities and communities, and 13. Climate action. ENEOS is contributing to the realization of a low-carbon, recycling-oriented society through the supply of environmentally conscious energy, including renewable energy.


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