TOKYO, Aug 1, 2014 (Press Release) - Japan Pulp and Paper Company Limited (hereinafter, JP) has launched a wood-based biomass energy generation venture in a joint capital investment with New Energy Development Company Limited.
The venture, Noda Bio Power JP Company Limited, to be operated in conjunction with New Energy Development Company Limited, will construct facilities in the village of Noda located in Iwate prefecture capable of generating 96.48GWh of electricity with generation operations scheduled to commence in April of 2016. The energy generated by the new entity will be sold to power utility companies through the Japanese government's Feed-in Tariff Scheme for Renewable Energy. By utilizing woodchips made from not only unused materials, but also bark as fuel, the new operations will provide a service to the local forestry industry and also contribute to the post-earthquake reconstruction efforts in Noda village and the creation of a recycling oriented society.
JP is also jointly participating in biomass energy generation operations located in Matsue city, Shimane prefecture with the aim of supplying electricity to power companies. The construction of generation facilities in Matsue city is currently underway with operations slated to commence in April 2015. JP will continue to further expand its involvement in the resource and environment-related business activities demanded by society in cooperation with its business partners and local municipal bodies.