In February, together with our partner Total Eren S.A., operation began at the Vientos Los Hércules Wind Farm in southern Argentina (with power generation capacity of 97.2 MW in total) which Mitsui & Co., Ltd. ("Mitsui") had acquired through a wholly owned subsidiary. The electricity will be sold to CAMMESA. This project represents Mitsui's first electric power project in Argentina.
The government of Argentina aims to increase the percentage of energy supplied using renewable resources to 20% by 2025. To achieve these goals, Argentina launched an international auction process known as the "RenovAr Program", through which it has selected 169 solar, wind, biomass, and small-scale hydro power projects, including the Vientos Los Hércules project.
Mitsui, based on its equity interest in power generation businesses under operation both in Japan and overseas, owns 11GW of generation capacity (as of September 2020), of which 14% is generated using renewable resources. Mitsui has set a new goal, which is to achieve net-zero emissions by 2050 under its Medium-term Management Plan, and will aim to increase the ratio of renewable energy including hydroelectric power to 30% by 2030. Through this project, Mitsui aims to contribute to the realisation of a sustainable environmental society.
“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Secure sustainable supply of essential products” and “Create an eco-friendly society”
Secure sustainable supply of essential products
Enhance quality of life
Create an eco-friendly society
Develop talent leading to value creation
Build an organization with integrity