- Commencing mixed fuel coal and biomass electric power generation business (149MW) at Ishinomaki Mill -
TOKYO, Apr 24, 2015 - (ACN Newswire) - Nippon Paper Industries Co., Ltd. (President: Fumio Manoshiro; hereinafter, "Nippon Paper Industries) and Mitsubishi Corporation (President: Ken Kobayashi; hereinafter, "MC") are pleased to announce that they have agreed to establish Nippon Paper Ishinomaki Energy Center Ltd. (tentative name) (hereinafter, "the new company"), an electric power generation business company that will construct and operate a thermal electric power generation facility using mixed fuel of coal and biomass in Ishinomaki City, Miyagi Prefecture.
The new company will set up the electric power generation facility on the Hibarino site owned by Nippon Paper Industries' Ishinomaki Mill. The operation and maintenance of the electric power generation facility will be contracted to Nippon Paper Industries, and electricity will be sold to a Power Producer and Supplier (PPS: Specified-Scale Electricity Utility). The business is scheduled to commence in March 2018.
Ishinomaki City, Miyagi Prefecture, was devastated by the tsunami that followed the Great East Japan Earthquake, and Ishinomaki Mill, which is central to Nippon Paper Industries' paper business, was also forced by the tsunami to suspend its whole operations. However, its recovery work has been carried out by the end of August 2012, around 18 months after the disaster, the facilities of Ishinomaki Mill were fully restored.
Nippon Paper Industries is working to transform its current business structure into a comprehensive global biomass business. Developing other strategic growth fields in addition to the paper business, the company is committed to expanding its energy business by utilizing locational advantages of its mills and its techniques in operating power generation facilities developed over many years, as well as its advantages in the procurement of fuel and woody biomass both in Japan and overseas. In addition to paper business, Ishinomaki Mill is now engaged in the recycling business. Nippon Paper Industries adds this new business of electric power generation in Ishinomaki Mill, and will assist in the stable supply of electricity, as well as promoting forestry in the Tohoku area and contributing to local community development.
Since Great East Japan Earthquake of March 2011, MC has been providing support for recovery and rehabilitation in the areas affected by the disaster through the Mitsubishi Corporation Disaster Relief Foundation. MC will draw on its expertise to ensure that this new project is implemented with full consideration for the host community and in a way that is environmentally safe over the long term, while at the same time contributing to the revival of industry and sustainable employment generation in the region.
Outline of the new company and the business of electric power generation
(1) Operating body: Nippon Paper Ishinomaki Energy Center Ltd. (tentative name)
(2) Location: Ishinomaki City, Miyagi Prefecture
(3) Date of establishment: Late May, 2015 (planned)
(4) Nature of business: Operation and management of electric power generation facility and wholesale supply and sale of electricity
(5) Investment ratio: Nippon Paper Industries 70%, Mitsubishi Corporation 30%
(6) Power output: Generating end 149,000kW
(7) Fuel: Coal, woody biomass (maximum 30%)
(8) Start of power generation: March 2018 (planned)
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
Source: Mitsubishi Corporation
Contact:
Mitsubishi Corporation Telephone:+81 3 3210 2171 Facsimile:+81 3 5252 7705
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