Toyoda Gosei : Concludes Virtual Power Purchase Agreement with Toyota Tsusho

May 16, 2024

Increasing the use of renewable energy to achieve carbon neutrality

Toyoda Gosei Concludes Virtual Power Purchase Agreement with Toyota Tsusho

JP Ver.

Kiyosu, Japan, May 16, 2024: Toyoda Gosei Co., Ltd. has concluded a virtual Power Purchase Agreement with Toyota Tsusho Corporation for the procurement of renewable energy, a contract for the direct purchase of non-fossil certificates from renewable energy power generation companies and others.

Toyoda Gosei will make annual, long-term purchases of non-fossil certificates* equivalent to 607 megawatt hours, or reduction of CO₂ emissions by approximately 274 tons per year of power scheduled to be generated at a new Toyota Tsusho solar power plant and increase in its use of renewable energy. The certificates have the effect of encouraging the construction of new renewable energy power plants and spreading renewable energy in society.

In August 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 switch to renewable energy for electric power. In the latter, the company is also using solar power generated on-site, green energy, and renewable energy certificates to achieve the best combination of diverse means to increase its use of renewable energy.

* Certification of the environmental value of renewable energy that does not emit CO₂. The amount procured with the certificate is regarded as equivalent to the actual usage of renewable energy.

Increased use of renewable energy through virtual PPA

Roadmap for CO₂ reductions by 2030