Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) together with its wholly owned subsidiary, Mitsui & Co. Project Solutions, Ltd. ("MPS"), has signed a virtual power purchase agreement (VPPA)*1 to supply environmental value generated from domestic solar power plants to NIKE Japan Group, LLC ("NIKE Japan").
Under this agreement, Mitsui and MPS will provide NIKE Japan with Non-FIT Non-Fossil Certificates (NFCs)*2 generated from 16 solar power plants located in the TEPCO Power Grid area over the long term. The agreement covers 18 MW, comprising 3 MW of new solar projects and 15 MW of recently established projects. This initiative will enable NIKE Japan to source 100% of the electricity used at its owned and operated facilities in Japan — including distribution centers, stores, and offices — from renewable energy.
Mitsui will contribute to the realization of a sustainable society through the wider deployment of renewable energy by combining its accumulated expertise in electricity sales and supply-demand balancing with MPS's knowledge in power generation development and operational management.
*1 A contract in which the environmental value of electricity generated from renewable energy sources such as solar, wind, hydro, or geothermal is transacted without trading the physical electricity itself.
*2 Non-Fossil Certificates represent the environmental value of electricity generated from renewable energy. Certificates issued from power sources that are not covered by the FIT (Feed-in Tariff) scheme are categorized as Non-FIT Non-Fossil Certificates.
Company Profile
| Official name | NIKE Japan Group, LLC |
|---|---|
| Head Office Location | 9-7-1 Akasaka, Minato, Tokyo |
| Established | 1981 |
| Representative | Tetsuji Kobayashi |
| Business Activities | Sporting goods distributor |
| Website |
Mitsui’s Materiality
“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 six material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Establish a foundation for sustainable and stable supply” and “Create a community coexisting with nature”
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Establish a foundation for sustainable and stable supply
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Create a community coexisting with nature
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Foster a well-being society
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Cultivate societies that respect human rights
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Empower our people to build brighter futures
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Build an organization with integrity