In Japan, a project consortium with JFE Engineering Corporation (JFE Engineering), the engineering and construction arm of JFE Group, Chubu Electric Power Co., Inc (Chubu Electric), Toho Gas Co Ltd (Toho Gas), and Tokyo Century Corporation (Tokyo Century) have signed a project financing agreement to invest in Tahara Biomass Power LLC.
Established by JFE Engineering, Tahara Biomass Power is a 112 MW biomass-fired power plant project in Tahara City, Aichi Prefecture. According to JFE Engineering, the project is the largest of its kind in Japan and the largest biomass plant that the investing companies have attempted.
The project financing, the value of which has not been disclosed, was arranged by Mizuho Bank Ltd and Development Bank of Japan Inc with JFE Engineering and Chubu Electric Power each with a 40 percent stake, while Toho Gas and Tokyo Century both have a 10 percent stake each.
The planned plant will use woodchips as fuel and plant construction is expected to begin in June 2022. With the understanding and cooperation of the local community as well as the relevant entities, the four investors together with the project company are aiming to commence operations in September 2025.
