Mitsui & Co. Project Solutions, together with Mitsui, Concludes a Virtual PPA with NIKE Japan
Mitsui & Co. Project Solutions, Ltd. (“MPS”, Head Office: Tokyo, President and CEO: Tadateru Tanigaki), together with its parent company, Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President and CEO: Kenichi Hori) has signed a virtual power purchase agreement (VPPA) *1 to supply environmental value generated from domestic solar power plants to NIKE Japan Group, LLC (“NIKE Japan”, Head Office: Tokyo, Vice President＆General Manager: Tetsuji Kobayashi).
Under this agreement, MPS and Mitsui will provide NIKE Japan with Non-FIT Non-Fossil Certificates (NFCs) *2 generated from 16 solar power plants located in the TEPCO Power Grid area over the long term. The agreement covers 18 MW, comprising 3 MW of new solar projects and 15 MW of recently established projects. This initiative will enable NIKE Japan to source 100% of the electricity used at its owned and operated facilities in Japan — including distribution centers, stores, and offices — from renewable energy.
MPS will contribute to the realization of a sustainable society through the wider deployment of renewable energy by combining its knowledge in power generation development and operational management with Mitsui’s accumulated expertise in electricity sales and supply-demand balancing.
*1 A contract in which the environmental value of electricity generated from renewable energy sources such as solar, wind, hydro, or geothermal is transacted without trading the physical electricity itself.
*2 Non-Fossil Certificates represent the environmental value of electricity generated from renewable energy. Certificates issued from power sources that are not covered by the FIT (Feed-in Tariff) scheme are categorized as Non-FIT Non-Fossil Certificates.
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