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Mitsui & Co., Ltd. ("Mitsui", head office: Chiyoda-ku, Tokyo, President and CEO: Masami Iijima) has, with the cooperation of Chubu Electric Power, reached basic agreement with five companies that have expertise and track records in the field of renewable energy, concerning a feasibility study of Japan's biggest solar and wind power generation facility in Tahara City, Aichi Prefecture.
|Project name||Tahara Solar-Wind Joint Project|
|Participating companies||Mitsui Chemicals, Inc., Mitsui & Co., Ltd., Toagosei Co., Ltd., Toshiba Corporation, Toray Industries, Inc., Mitsui Engineering and Shipbuilding Co., Ltd.,
Note: Chubu Electric Power Co., Inc. is also considering participation, either directly or through a group company.
|Generating capacity||Solar: 50 MW, wind: 6 MW
(All electricity generated will be sold to Chubu Electric Power under an Act on Special Measures Concerning Renewable Energy Promotion.)
|Site||Approximately 820,000 m2 of land (about 17 times the area of the Tokyo Dome) owned by Mitsui Chemicals in Midorigahama, Tahara City, Aichi Prefecture|
|Total investment||Approximately ¥18 billion|
|Construction period||Start: June 2012, completion: September 2013|
|Business period||18 years|
* The plan may be reviewed to reflect conditions defined under the aforementioned special measures law, including the purchase price and purchase period for the electricity (to be finalized in the first half of 2012).
For this project, six companies with expertise and track records relating to solar and wind power generation, including technologies, products and business administration, will jointly create Japan's biggest mega-solar and wind power generation scheme with the cooperation of Chubu Electric Power. Numerous mega-solar and wind power schemes are expected to be developed as part of Japan's efforts to increase the use of renewable energy. This will require the development of additional technologies relating to generation systems, grid connection and other aspects, as well as efforts to reduce costs.
Mitsui is involved in the solar power business in Japan and overseas and has accumulated wide-ranging expertise and an understanding of the challenges through its long experience in the operation of these projects. Mitsui aims to contribute to the increased use of renewable energy by sharing this information with the other participating companies, and by also applying expertise of those companies to cooperative problem-solving efforts.
The proposed site for the construction of the facilities is among the best in Japan in terms of both sunshine hours and average wind speed. These excellent conditions are expected to ensure efficient solar and wind power generation.
The project also aligns well with the new energy promotion policies of Aichi Prefecture and Tahara City, and both the prefectural and municipal governments have offered their full support. Mitsui is determined to contribute to the increased use of new energy technology in cooperation with Aichi Prefecture and Tahara City. The project will be financed by the Development Bank of Japan.
The environmental contribution from this power generation scheme is outlined below.
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently available to it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.