Higo Bank (Kumamoto City), a member of Kyushu Financial Group, established KS Energy, a 100% owned renewable energy subsidiary, on January 3. A company regulated by the Banking Act to promote the banking industry among other industries, active in local energy production, local consumption and decarbonization.
Kyushu Financial Corporation's financing amount for renewable energy in 2022 will reach 22.3 billion yen
(Source: Kyushu Financial Corporation)
KS Energy promotes on-site and off-site PPA (power purchase agreement) business for high-voltage solar power plants. Aiming for on-site PPA projects with a total capacity of 10MW in 3 years.
In addition, to revitalize the region, we will develop small hydropower plants and purchase solar power plants through the secondary market. Small hydropower generation will be sold based on a feed-in tariff (FIT) system. Regarding the secondary purchase of solar power, we will also consider operating it after the FIT price expires.
Additionally, on January 10, Kyushu Financial Corporation registered as a ``TNFD Adopter'' company adopting the recommendations (TNFD recommendations) issued by the Task Force on Self-Related Financial Disclosures. (TNFD) announced in September 2023. TNFD adopters will be required to disclose information as recommended by the TNFD in fiscal year 2024 or 2025. Companies registered before January 10 will be recognized Dad is an "Early Adopter". In the future, the company will strive to improve the system, analysis and information disclosure according to TNFD's recommendations.
As part of its efforts to achieve its decarbonization target, the group has declared carbon neutrality by 2030 for Scope 1 and 2 (direct emissions and indirect emissions from purchased electricity) and set a deflation target CO2 emissions in 2019 until 2023. We are aiming for a 10% reduction compared to the fiscal year and a 30% reduction by the fiscal year 2030.
