Japan's Kao, Mizuho ink solar VPPA tied to 15.6-MW project

• Japan's Kao Corp and Mizuho Leasing Co Ltd (TYO:8425) on Friday announced the finalizing of a solar virtual power purchase agreement (PPA) in between the two companies.

Kao will certainly purchase the outcome generated by a 15.6-MW solar power project in order to power its Sumida plant in Tokyo.

The entire project will certainly be coordinated by Mizuho Bank, while Mizuho Leasing will certainly have and operate the new solar energy plant. Its yearly power generation is anticipated to be around 16.2 million kWh, equivalent to 108% of the power made use of at the Sumida site, and enough to offset regarding 7,336 tonnes of co2 emission (CO2) per year.

This is the first time that Kao has actually taken on a virtual PPA, while it will be its second business PPA, complying with the agreement signed for its head office, which started receiving electricity in 2015.