Invenergy has announced a major virtual power purchase agreement (VPPA) with Honda Motor Co Ltd. (Honda) for the Rusutsu Wind project, providing 63 MW of renewable energy. The wind farm, located in Japan’s Hokkaido region, is expected to offset 64,000 tonnes of carbon emissions annually. Additionally, this agreement builds on Invenergy’s 200 MW power purchase deal with a Honda group company in North America, tied to the Samson Solar Energy Center.
Earlier this month, Invenergy along with Monarch Private Capital announced the completion of nearly $170 million in tax equity financing for the Samson Solar Energy Center II in Lamar County, Texas. The project was developed by Invenergy and is expected to deliver over $27 million in taxes along with contributions to the county and local schools over its lifespan.
Invenergyi is a Chicago-headquartered privately held developer, owner, and operator of renewable energy projects. The company has operated in Japan for more than 10 years. It has developed and is operating a portfolio of solar projects, and Rusutsu Wind Energy Center is its first onshore wind project in the country. The said wind power project became operational earlier this year.
REGlobal’s Views: Corporate PPAs are increasingly gaining traction in Japan, as in the rest of the world, to provide cheaper clean power to businesses. This creates attractive market opportunities for large developers like Invenergy, which is expanding its portfolio across Americas, Europe, and Asia.
