Toyo Tire Signs Solar Power Pact with Chubu

• Toyo Tire & Rubber secures clean power via a 7.8MW off-site solar PPA with Chubu Electric Power Miraiz—getting renewable electricity from third-party assets without building its own solar.

Toyo Tire & Rubber will buy electricity generated by a 7.8-megawatt solar portfolio under an off-site power purchase agreement with Chubu Electric Power Miraiz. The deal provides Toyo with the output from the solar assets rather than installing generation on its own sites.

Chubu Electric Miraiz will supply power from the portfolio to Toyo as part of the arrangement, supporting the tire maker’s clean-energy procurement plans. The agreement underscores growing corporate demand in Japan for renewable electricity sourced through third-party solar projects.

How will Toyo’s off-site PPA for a 7.8-MW solar portfolio benefit its renewable goals?

• Accelerates Toyo’s renewable-energy targets by adding a meaningful volume of clean electricity without waiting for new on-site solar permitting, construction, and commissioning.
  
• Improves procurement flexibility: Toyo secures energy output from a dedicated 7.8‑MW portfolio through an off-site PPA, rather than having to deploy and manage the physical assets at its own facilities.
  
• Strengthens renewable electricity sourcing by directing consumption toward verified solar generation supplied by a third-party developer/operator, supporting more structured “renewables on the grid” accounting approaches.
  
• Reduces operational burden and capex responsibility compared with self-build: Toyo can focus on its core manufacturing needs while the project party handles asset performance, generation risk, and delivery logistics (as defined in the contract).
  
• Supports long-term clean-energy planning by locking in a supply arrangement for a defined period, helping stabilize energy sourcing strategy as the corporate decarbonization agenda evolves.
• Enhances corporate sustainability credibility by demonstrating procurement of external renewable power, a key signal to customers, investors, and regulators that Toyo is scaling renewable adoption beyond internal initiatives.
  
• Helps diversify the company’s electricity portfolio in Japan by adding solar-backed supply to its overall energy mix, supporting gradual decarbonization of industrial load.
  
• Aligns with the broader shift in Japan toward third-party renewable procurement as companies increasingly use off-site PPAs to overcome land constraints and site-related limitations.
• Can enable progress toward Scope 2 emission-reduction objectives by using contract-defined renewable electricity to reduce the carbon intensity associated with purchased power (subject to applicable reporting rules).