Toyo Seat, Mazda indication 4.9-MW solar PPA in Japan
- Japanese carmaker Mazda Motor Corp (TYO:7261) as well as peer Toyo Seat Co Ltd will certainly offtake 4.9 MW of solar power from neighborhood utility Chugoku Electric Power Co Inc (TYO:9504) under an offsite power purchase agreement (PPA).
Distribution of the acquired electrical energy is readied to begin in stages in April 2023, Mazda revealed today.
Under the agreement, Japanese solar generation systems and semiconductor maker Choshu Industry Co Ltd will serve as the electrical power manufacturer.
Particularly, Choshu as well as Mazda will certainly set up new solar systems on idle land in the Chugoku region. Once up and running, the new solar farms will sell their output to Chugoku Electric, which will after that provide it to Toyo Seat as well as Mazda.
This agreement, the initial in the whole Chugoku area including greater than one electrical power customer, will certainly take advantage of the Ministry of Economic Situation, Trade and Industry's subsidies as it includes the creation of new solar energy generation setups led by electric power consumers.