Japan Petroleum Exploration Co., Ltd. - New Sponsors Participate in Abashiri Biomass Power Generation Project
April 01, 2022 at 09:00 am EDT
Share
Japan Petroleum Exploration Co., Ltd. (JAPEX, Head Office: Chiyoda-ku, Tokyo, Representative Director and President: FUJITA Masahiro) announced that new three sponsors, MITSUBISHI GAS CHEMICAL COMPANY, INC., SMFL MIRAI Partners Company, Limited, and TOKYO ENERGY & SYSTEMS INC., have completed necessary process for their participation in the biomass power generation project, mainly the development of the 2nd and 3rd of Abashiri biomass power plants on March 31, 2022.
The project was originally launched by WIND-SMILE Co., Ltd. (WINS), which mainly engaged in the development and design, sales, construction, and operation and management of natural energy power generation systems. Currently, the project is under development since September 2020 by the two special purpose companies for the power plants (hereinafter 'the SPCs'), which is to use 100% domestic wood chips as fuel made by woods in Hokkaido. In September 2021, JAPEX and Nippon Paper Lumber Co., Ltd. participated in the project in line with the capital increase of the SPCs. Besides, the three new sponsors participated in the project by purchasing a part of our share at this time.
Each of the power plants has an output scale of 9,900kW (total of 19,800kW), and its construction works are proceeding by WINS with the aim of the commercial operation commencement in August 2022 for the 2nd plant and December 2022 for the 3rd plant. The sponsors, including new three ones, will play their roles and support the SPCs' works. JAPEX has been entrusted the asset management work through Japex Green Energy Co., Ltd. (JGE, 100% subsidiary). Furthermore, we will transfer the consignment contract in the performance management, a part of the asset management works, to TOKYO ENERGY & SYSTEMS INC., one of the new sponsors.
JAPEX, with the SPCs and sponsors, will contribute to expanding the use of electricity derived from renewable energy sources with low environmental impact and developing local economies, with the understanding and support from local stakeholders.
The performance management work is such as data confirmations of power plant availability, power generation, and operation status of generation facilities and related equipment as well as monitoring and advices to safety and quality management status for keeping good operations of the plants.
Japan Petroleum Exploration Co., Ltd. is a company principally involved in crude oil and natural gas related business. The Company operates in four geological segments. The Japan segment involves in the exploration, development, production, purchase, sale, transportation of crude oil and natural gas, the production, purchase, sale, transportation of petroleum products, as well as contracting work of mining wells. The North America segment involves in exploration, development, production, purchase and sale of crude oil, natural gas, as well as bitumen which is super heavy oil collected from the oil sand layer in North America. The Europe segment involves in the exploration of crude oil and natural gas in Europe. The Middle East segment involves in the exploration, development and production of crude oil and natural gas in Middle East.
JAPAN PETROLEUM EXPLORATION CO., LTD. 
