i-Grid Solutions Inc. and Mitsubishi UFJ Trust and Banking Corporation have signed a basic agreement to promote on-site PPA*1 business. The two companies will start collaboration with an initial business scale of 5 billion yen, and will work together to rapidly advance development with the aim of further expanding the distributed on-site PPA business.
Overview of the initiative
iGrid has been leading the industry in realizing decarbonization of the region by quickly developing on-site PPA business that installs solar power plants on the roofs of facilities with zero initial cost, mainly for companies in the distribution and retail and logistics industries, and has a track record of being the No. 1 PPA model in Japan*2 (cumulative development record of 1,113 facilities, power generation capacity of 275MW/as of the end of January 2013). In addition, iGrid has accumulated unique GX solutions, technologies and know-how that utilize digital technology, including the “surplus power circulation scheme” that maximizes the installation area of solar panels while significantly increasing the self-consumption ratio of renewable energy power, and is promoting a decarbonized society together with the companies that adopt it.
Mitsubishi UFJ Trust and Banking Corporation is working to resolve various social issues as it strives to be “a trust bank that creates a secure and prosperous society.” In response to the social issue of realizing a decarbonized society, the bank invests in renewable energy power plants, including solar power (including agricultural solar power), wind power, and hydroelectric power, and aims to be involved in the entire process, from the development and safe operation of locally rooted renewable energy power plants to the establishment and management of renewable energy funds that meet the multifaceted investment needs of customers.
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This initiative between the two companies is part of iGrid’s “Solar Alliance Business*3,” which concretely promotes decarbonization in each region through partnerships with companies, local governments, etc. By combining iGrid’s PPA development capabilities with Mitsubishi UFJ Trust and Banking Corporation’s financing capabilities, we will promote the development of distributed power plants more quickly and on a large scale, and aim to realize energy independent, self-sustaining towns (GX City) through GX solutions that combine storage batteries, EVs, etc.
Going forward, the two companies will combine iGrid‘s No. 1 track record in Japan for PPA models with Mitsubishi UFJ Trust and Banking’s comprehensive financial services and advanced operational know-how to promote local production and consumption of renewable energy (hereinafter “RE”) electricity and contribute to efforts to improve self-sufficiency in renewable energy, an issue for companies and regions.
SOURCE: PRTimes
