RENOVA, Inc. (hereinafter “RENOVA”) hereby announces that First Solar Power G.K,. a consolidated subsidiary
of RENOVA, has concluded an environmental value sale and purchase agreement (hereinafter “Virtual PPA”),
under which the environmental value derived from any electricity generated by newly-built solar PV power plants
to be developed by RENOVA Group will be sold directly to Murata Manufacturing Co., Ltd. (hereinafter “Murata
Manufacturing”) as Non-FIT Non-Fossil Certificates. This agreement has already taken effect.
1. Purpose of the conclusion of the Virtual PPA
With a mission of creating green and sustainable energy systems for a better world, RENOVA operates its power
generation business based on locally entrenched renewable energy resources such as solar, biomass, wind,
geothermal and hydraulic power.
Since RENOVA established the Green Transformation (GX) Division in April 2022, it has been engaged in a NonFIT (Direct PPA, FIP, etc.) based renewable energy power generation business. At present, it has concluded longterm PPAs with multiple electric power retailers.
RENOVA Group has newly concluded an agreement under which it will sell non-FIT Non-Fossil Certificates derived
from its own renewable energy power plants over the long term to Murata Manufacturing who aims to achieve
100% renewable energy under the global RE100 initiative. This is the first Virtual PPA agreement for RENOVA.
The non-FIT non-fossil certificates to be sold under this agreement will be derived from small-scale, distributed
solar PV power plants with additionality that will be newly developed by RENOVA Group. The generated electricity
will be sold to the wholesale electricity market.
RENOVA will continue to supply renewable energy in response to the needs of consumers, including companies
and local governments working to achieve decarbonization, while at the same time striving to increase its corporate
value through the development of new businesses in the decarbonization area.
