RENOVA Announces Final Investment Decision on Large-Scale Biomass Power Project

RENOVA, Inc. (“RENOVA”) informs that it has changed its planned schedule for commencing operation of Tokushima-Tsuda Biomass Power Project from March 2023 in May 2023 upon facility inspection, although RENOVA has been conducting its trial operation with the aim to commencing operation in March 2023 as announced in the press release "Announcement Concerning Final Investment Decision on Large-Scale Biomass Power Generation Project" dated February 25, 2019.

RENOVA began selling the electricity under the FIT scheme during the commissioning, with the period of electricity sales under the FIT scheme is 20 years from March 2023 to February 2043. The impact on business results for the current fiscal year (ending March 2023) is currently being examined.

If any further impacts identified in the future, we will promptly make announcement.