News
December 10, 2024
Increases use of renewable energy in move toward carbon neutrality
Toyoda Gosei Concludes Offsite PPA with Chubu Electric Power Miraiz
Kiyosu, Japan, December 10, 2024: Toyoda Gosei Co., Ltd. has concluded an offsite power purchase agreement (PPA) with Chubu Electric Power Miraiz Co., Inc. for the provision of renewable energy. The energy for this agreement will be produced at a new power plant located off Toyoda Gosei grounds, and increase the company’s use of renewable energy.
In this agreement, Toyoda Gosei will purchase 1,629 megawatt-hours of renewable energy annually, for 20 years, from a floating solar power plant* in Mie Prefecture that is scheduled to begin operation in June 2025. The amount is equivalent to the annual reduction of CO2 emissions by about 740 tons. The agreement will not only increase the company’s use of renewable energy, but also contribute to the spread of renewable energy in society overall by promoting the installation of new renewable energy sources.
In 2023 Toyoda Gosei brought forward, to 2030, the timing for achieving carbon neutrality in the CO2 emissions generated in its production and other activities (Scope 1 and 2), and it is accelerating its energy savings from production technology innovations and daily kaizen and its transition to renewable energy for electric power. To make this transition to renewable energy, the company is also pursuing increased use of in-house solar power and Renewable Energy Certificates in addition to this offsite PPA. Toyoda Gosei is expanding its use of renewable energy by optimizing the combination of various approaches.
* Floating installations have attracted attention as novel installation sites to counter the lack of land for solar panels in Japan.
Features: These sites do not require forest clearing or large-scale land preparation, and the cooling effect from the water surface prevents decreased generation efficiency in summer. The proliferation of algae is also suppressed by blocking the sunlight on the water surface. In addition, the percentage of the water surface area used for solar panels is set below one-third in this contract. This minimizes the impact on water birds and contributes to the maintenance and management of the reservoir through the payment of rental fees to the management association for coexistence with wildlife and the community.
Increasing the use of renewable energy with an offsite PPA
Roadmap for CO2 reductions until 2030
