Global Engineering Procures Solar Power with Offsite PPA
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(Source: Sun Village)
On March 30, SVC, a special purpose company (SPC) wholly owned by Sun Village (Ashikaga City, Tochigi Prefecture), entered into an off-site PPA (Power Purchase Agreement) with Global Engineering (Fukuoka City), an electricity retailer. announced that it has signed a contract for the procurement and supply of solar power by a model.
Based on the contract, SVC will supply global engineering with electricity and environmental value generated by solar power plants that do not rely on the feed-in tariff (FIT) system. No feed-in premium (FIP) is used and imbalance risk is borne by Global Engineering.
The solar power plants that supply renewable power will initially start at two locations in Ibaraki Prefecture, with plans to gradually expand. Output scale and power supply volume are not disclosed. Parent company Sun Village will be responsible for the construction and maintenance of the solar power plant.
Global Engineering will supply procured renewable energy power and environmental value according to the renewable energy needs of customers, who are consumers. The company proposes electricity rates according to the customer's electricity usage status by supplying electricity that utilizes the ratio of its own power supply and other companies' power supply and demand response.
