Idemitsu Kosan Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; Representative Director and CEO: Shunichi Kito; hereinafter, “the Company”) has had its “Introduction of 2MW Solar Power System for Pellet Factory” project in Vietnam, which is undertaken for the purpose of promoting renewable energy overseas, has been selected by the Ministry of Environment for their “Financing Programme for JCM Model Projects in FY2020” scheme. The reduction in carbon dioxide emission from this project is expected to be 1,024 t/year. The project is implemented under the cooperation of the Vietnamese government and the Japanese government.
The project selected this time is a project to install a 2MW solar power generation system on the roof-top of a biomass fuel pellet factory which is owned and operated by Ha Tien Energy Corporation Multi-member LLC (Headquarters: Binh Dinh Province, Vietnam; hereinafter “HATIECO”), in partnership with TTCL Public Limited (Headquarters: Bangkok, Thailand) which is the parent company of HATIECO, and sell the power generated from the system to HATIECO.
Japan establishes and implements the Joint Crediting Mechanism (JCM) in order both to appropriately evaluate contributions from Japan to GHG emission reductions or removals in a quantitative manner achieved through diffusion of low carbon or decarbonizing technologies, as well as implementation of mitigation actions in developing countries and to use them to achieve Japan’s emission reduction targets. In order to support the implementation of candidate JCM projects, Ministry of the Environment, Japan has launched the “Financing Programme for JCM Model Projects in FY2020”.
Vietnam is in the process of stable economic growth, and the utilization of renewable energy is being promoted as the demand for electricity grows further. Through this project, the Company will respond to the needs of companies for decarbonization and contribute to the promotion of clean energy and the realization of a decarbonized society in Southeast Asia.
- Name: Introduction of 2MW Solar Power System for Pellet Factory
- Location: Binh Dinh Province, Vietnam
- Details: Install a solar power generation system on the roof of a factory and sell the generated power to the factory owner. Contribute to greenhouse gas reduction by promoting the introduction of renewable energy power sources.
- Completion Date: First half of 2022 (scheduled)