Dai ichi Life : Impact Investment in Clean Energy Connect- Accelerating uptake of renewable energy by expanding off-site corporate PPAs - PDF
08/01/2022 | 03:04am EDT
August 1, 2022
Impact Investment in Clean Energy Connect
- Accelerating uptake of renewable energy by expanding off-site corporate PPAs -
The Dai-ichi Life Insurance Company, Limited (the "Company"; President and Representative Director: Seiji Inagaki) has invested JPY 300 million in Clean Energy Connect, Inc. ("Clean Energy Connect"; Representative Director: Teppei Uchida), a Japanese startup that provides companies with renewable energy solutions. This impact investment1 is part of the Company's ESG investments.
Clean Energy Connect is a startup that offers low-voltage, distributed off-site corporate power purchase agreements (PPAs) An off-site corporate PPA is a method for procuring electrical power in which a company installs solar power generation facilities at an off-site location; the generated electricity is then sent together with environmental value to company sites requiring power
Clean Energy Connect makes effective use of land in japan to install distributed small and medium-size solar power generation facilities; in this way, it is able both to minimize the impact on local environments and the risks from natural disasters and, at the same time, develop power generation capacity at low-cost and in a short frame of time
In recent years, an increasing number of companies are engaged in ambitious businesses committed 100% renewable energy (RE100)2. Through its services, Clean Energy Connect seeks to accelerate the uptake of renewable energy that achieves "additionality"3, and so encourage an early transition to a decarbonized society.
Reducing CO2 emissions
and mitigating climate
Contributing to reductions in CO2 emissions and mitigating climate change, through renewable energy generation thatachieves additionality
1Impact investment is an investment activity where an investor makes investment decisions with the intent to gain investment returns and generate social impact (e.g., structural change in society).
2RE100 is a global initiative that brings together companies committed to using 100% renewable energy in their business operations. The Company joined the initiative in August 2019.
3Additionality is concept that refers to organizations directly adding new renewable energy generation to the grid, such as by newly creating its own power generation facility.
The Company contracted with Clean Energy Connect for its off-site corporate PPA service in September 2021. Through this agreement, the Company intends to advance its initiatives for achieving 100% renewable energy (RE100) by the end of fiscal 2023; in addition, through the further expansion of the Japanese off-site corporate PPA industry, it hopes to accelerate the uptake of renewable energy.
The Company expects high investment returns from its investment in Clean Energy Connect; it will also provide financial support for and continually monitor Clean Energy Connect's initiatives, which it is hoped will have a positive impact on society by reducing CO2 emissions and mitigating climate change.
As a responsible institutional investor, the Company will continue to actively engage in ESG investment both to realize a sustainable society, and to improve its investment returns through sophisticated and diverse investment methods.
Teppei Uchida, Representative Director of Clean Energy Connect, Inc., provided the following comments:
At Clean Energy Connect, we provide support for corporations to achieve their decarbonization and RE100 goals. Our customers comprise companies whose managements are focused on decarbonization, or who have signed up to RE100; using a new type of system called an off-site corporate PPA, we provide them with electricity and environmental value via customers' dedicated non-FIT solar power generation facilities. Our services enable our customers to increase their use of renewable energy without having to rely on FIT systems. It is an effective measure against climate change, and has the potential to produce a significant environmental impact. The money that The Dai-ichi Life Insurance Company has invested in us will be used to strengthen the green electricity solutions we provide. In response to an increasing corporate demand for decarbonization and renewable energy, we will work together with our customers to provide a one-stop solution for green electricity, including the drafting of pre-installation plans, supporting actual installation, and verifying post- installation efficacy.
Clean Energy Connect, Inc.
Representative Director Teppei Uchida
Corporate green electricity solutions; non-FIT renewable power generation
Dai-ichi Life's Impact Investment History (Last 3 years)
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Dai-ichi Life Holdings Inc. published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 07:03:00 UTC.