Kyushu Mirai Energy Corporation, a subsidiary of Japan-headed energy utility major Kyushu Electric Power Company Inc., has announced that Nanatsu Island Biomass Power LLC, a biomass power plant project vehicle established by a consortium of nine companies including Kyushu Mirai Energy will go ahead with plans to build a 49 MWe output biomass power plant in Kagoshima Prefecture, on the Japanese island Kyushu.
According to a statement, Nanatsu Island Biomass Power was set up by a consortium consisting of IHI Corporation, Tokyo Century Lease Co. Ltd, Kyuden Engineering Co. Ltd, Kagoshima Kaikyo Transportation Co. Ltd, Shimadzu Kogyo Co. Ltd, Minami Kokusai Co. Ltd, Nippon Gas Co. Ltd, Kagoshima Bank Ltd and Kyushu Mirai Energy Corporation.
Nanatsu Island Biomass Power will develop and build a 49 MWe woody biomass power generation plant in Nagatsushima, Kagoshima Prefecture on a site leased from IHI Corporation. The power will be sold to Kyushu Electric Power Co. Ltd, the parent company of Kyushu Mirai Energy.
Construction start is expected this fiscal year and is estimated to be completed in the latter half of 2018. Funds for the project, the amount of which has not been disclosed, are planned to be raised through investment from the nine consortium members along with project finance from regional financial institutions and Japan Development Investment Bank.
