SMFL MIRAI Partners, Yanmar Holdings, And Yanmar Energy System Partner To Deliver Japan's Largest Virtual PPA With 150 MW Renewable Energy Supply

SMFL MIRAI Partners Company, Limited., a strategic subsidiary of Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL), Yanmar Holdings Co., Ltd., and Yanmar Energy System Co., Ltd. have signed a basic agreement to supply 150 MW of renewable energy—the largest capacity under a Virtual Power Purchase Agreement (PPA)¹ in Japan.

As part of the initiative, SMFL MIRAI Partners and Yanmar Energy System established a joint venture company (referred to as the power generation SPC) to supply renewable energy to Yanmar Holdings. In its first phase, the SPC has acquired nine high-voltage solar power plants with a total capacity of 10.9 MW. The additional environmental value² created by these facilities will be supplied to Yanmar Holdings starting in December 2024 through an aggregator³.

SMFL MIRAI Partners was able to quickly provide this environmental value to Yanmar Holdings due to its proactive development of solar power plants, even before securing buyers. The three companies aim to develop 150 MW of renewable energy sources across Japan by fiscal 2030. This initiative aligns with Yanmar Holdings’ YANMAR GREEN CHALLENGE 2050 and contributes to achieving a zero-carbon society.

^*[1] Virtual Power Purchase Agreement: A contract that supplies only the environmental value, over a long period, derived from renewable energy power plants.

^*[2] Additional environmental value: Introducing new renewable energy sources, rather than relying on conventional renewable energy sources (FIT).

^*[3] In this project, Toshiba Energy Systems & Solutions Corporation has been appointed as the aggregator.