We are engaged in the power generation business using renewable energy with the aim of providing a stable supply of clean and safe power.
Since entering the biomass power generation business with the intention of supplying electricity to the Group’s paper manufacturing companies, we have been working on our power generation business with the aim of ensuring a stable supply of clean and safe electricity, for which social demands have been increasing. In 2016, in Noda Village, Iwate Prefecture, we started operation of a woody biomass power plant to generate electricity using materials including nearby unused timber, bark, and PKS (Palm Kernel Shell) as fuel. This project has been marked as one of the reconstruction projects in Noda Village, which suffered major damage from the tsunami following the Great East Japan Earthquake in 2011. The Company has taken the first step in contributing to local communities in terms of employment, including the hiring of locals from Iwate Prefecture. Further, in 2018, we established OVOL New Energy in Malaysia for the collection and export to Japan of PKS. We are strengthening our system to provide stable supplies of biomass fuel to Japan.
We are engaged in the solar power generation business under the Feed-in Tariff Scheme for Renewable Energy (FIT) at 3 locations: Kushiro, Iwate, and Miyagi. Like woody biomass power generation, it is promoted in cooperation with local governments, and we believe it is a high public-interest business development that will lead to the revitalization of local industries.