Procurement and Sale of Non-FIT Solar Power Plants

Jul. 01, 2024
Marubeni Corporation

Marubeni has signed an agreement to sell 400 Non-FIT*1 solar power plants (approximately 40MW) in bulk to a joint venture company (hereinafter, “LLC”) in which it invested with SMFL MIRAI Partners Co., Ltd. (hereinafter, “SMFL Mirai Partners”), a strategic subsidiary of Sumitomo Mitsui Finance and Leasing Co., Ltd., and Smart Energy Co., Ltd. (hereinafter, “Smart Energy”) (hereinafter, this project is referred to as “the Project,” and Marubeni, SMFL Mirai Partners, and Smart Energy are collectively referred to as “the three companies”).

info_240701 Solar Power Plant


Scheme of the Project
Marubeni aims to increase the liquidity of transactions by integrating and distributing small to medium-scale Non-FIT solar power plants, thereby promoting the early introduction of additional*2 renewable energy. In this project, Marubeni will procure 400 power plants (approximately 40MW) by fiscal year 2024 and sell them in bulk to LLC. Smart Energy will be responsible for the maintenance and management (O&M) of the power plants and asset management, while LLC will supply green electricity to domestic power consumers through corporate PPAs.*3

Domestic Solar Power Generation Environment
The 6th Strategic Energy Plan announced by the Ministry of Economy, Trade and Industry sets a target of 103.5-117.6 GW for cumulative solar power installation by 2030, with a focus on introducing Non-FIT solar power plants with additionality. As strategic partners, the three companies aim to realize the introduction of over 3,000 Non-FIT solar power plants (approximately 300MW) in the future.

Future Prospects
Since its participation in solar power-related businesses, Marubeni has been expanding its network for material procurement and construction both domestically and internationally. Through this project, Marubeni will contribute to accelerating the introduction of renewable energy in Japan and realizing a decarbonized society.

1 Private, self-sustaining power plants that are not subject to the Feed-in Tariff (FIT) system

2 Contributing to the spread of renewable energy by purchasing renewable energy sources that do not use the FIT system, such as self-generation, self-consumption, and PPAs

3 A contract in which a company directly enters into an agreement with a power generator to purchase electricity over a long period

Company Overviews:

Company Name: SMFL Mirai Partners Co., Ltd.
Location: 3-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan
Establishment: 2018
Representative: Akira Ueda
Main Business: Real estate-related business, environmental energy-related business, and other financial services
Website: https://www.smfl-mp.co.jp/en/corporate/profile/
Company Name: Smart Energy Co., Ltd.
Location: Meisan Nishi-Shinbashi Building 3F, 18-17 Nishi-Shinbashi 1-chome, Minato-ku, Tokyo, Japan
Establishment: 2007
Representative: Takuya Ogushi
Main Business: Management and maintenance of renewable energy systems such as solar power, asset management, etc.
Website: https://www.smart-energy.jp/