Japanese renewable power producer Renova Inc (TYO:9519) announced on Monday that the 75-MW Morinomiyako Biomass Power Plant has commenced power generation.
Located in Miyagi prefecture, the plant will use wood pellets and palm kernel shells (PKS) as a fuel source. Its annual output is estimated at about 553,300 MWh, or enough to meet the consumption needs of approximately 170,000 households each year.
Renova developed the renewable energy facility alongside electric utility United Purpose Management Inc, Mizuho Leasing Co Ltd (TYO:8425), Sumitomo Forestry Co Ltd (TYO:1911) and RenoDa Partners GK, part of Daiwa Securities Group (TYO:8601).
With 29%, Renova is the largest shareholder in Morinomiyako and has the right to buy a further 31% combined interest held by some co-sponsors in the special-purpose company that owns the biomass-fired plant.