NSG Group announced that it has entered into a long-term power purchase agreement for renewable electricity generated from solar panels installed on the premises of the Maizuru Plant, in Maizuru City, Kyoto Prefecture, as the first onsite solar project of the group in Japan. The installation work has just started.
Project details
In this project, a total of 3,064 solar panels with the capacity of 1.15 megawatt peak, manufactured by First Solar Inc., a manufacturer of thin-film solar panels that has a long-standing partnership with NSG Group, will be installed on unused land at the Maizuru Plant. The solar modules contain transparent conductive oxide glass made by NSG Group using its online coating technology.
The facility will be installed and operated by BayWa r.e. Japan, a renewable energy provider. The construction began on March 1 and the facility will be operational in October 2024. NSG Group will purchase 90% of the electricity generated over a period of 25 years at a contracted fix price. The facility is expected to supply 1,411 megawatts of renewable energy annually with a carbon reduction effect of about 541 tonnes of carbon dioxide per year.
Long-term goals
The introduction of this renewable energy will lead to a reduction in carbon emissions for NSG Group and contribute to the promotion of sustainability in the manufacturing process.
While the demand for renewable electricity in the market is increasing in the background of global carbon reduction, there is a risk of soaring electricity prices. The introduction of on-site PPAs utilizing idle land like this project in Maizuru hope to help stabilize the procurement of renewable energy for medium to long term.
NSG Group has set a target of reducing scope 1, 2 and 3 greenhouse gas emissions by 30% by 2030 compared to 2018 levels through an approved Science Based Target. At the same time, the group aims to achieve carbon neutrality by 2050. This project is part of its efforts to shift to renewable energy.
