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Nippon Paper to jointly establish Yen 2.6 billion power generation company at Fuji, Shizuoka, mill

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Nippon Paper to jointly establish Yen 2.6 billion power generation company at Fuji, Shizuoka, mill

August 07, 2013 - 06:29
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TOKYO, Aug. 7, 2013 (Press Release) -Nippon Paper Industries Co., Ltd. ("the Company"; President: Yoshio Haga) announces that it has reached an agreement and signed a joint venture contract with Mitsubishi Corporation (President: Ken Kobayashi) and Chubu Electric Power Co., Inc. (President: Akihisa Mizuno) for the establishment of a power generation company ("the New Company") that will construct and operate a 100-megawatt-class coal fired power generation unit.

The New Company will set up a power generation unit on the premises of the Company's Fuji Mill Suzukawa (Fuji, Shizuoka). The Company will be commissioned to operate and maintain the unit, and the New Company will sell electric power to Diamond Power Corporation (PPS; Power Producer and Supplier). Its business is scheduled to commence in May 2016.

The Company effectively capitalizes on its private power generation units and land lots for its mills nationwide, as well as on its long-nurtured operation technologies, in an intensive effort to expand its energy business. Going forward, the Company will step up its contribution to society and local communities through constant supply of electric power.

Profile of the New Company and its power generation business

(1) Location - 4 Imai, Fuji-shi, Shizuoka Prefecture (The premises of Fuji Mill Suzukawa of Nippon Paper Industries Co., Ltd.)

(2) Date of Establishment - Mid-September 2013 (planned)

(3) Business - Operation, maintenance and management of the power generation unit and wholesale supply of electric power

(4) Capital - Approx. 2.6 billion yen (planned)

(5) Ownership - Nippon Paper Industries Co., Ltd. 20%, Mitsubishi Corporation 70%, and Chubu Electric Power Co., Inc. 10%

(6) Power Generation Output - Approx. 100 megawatts at sending end

(7) Fuel - Coal

(8) Business Start Date - May 2016 (planned)