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ITOCHU Announces Initiative for Distributed Solar Power Supply Projects in Japan and Asia (In Asia, ITOCHU Will Partner with Symbior PMR Co., Ltd.)


New York, NY, April 29, 2019 --(PR.com)-- ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Yoshihisa Suzuki, President & COO; hereinafter “ITOCHU”) announced today that it will cooperate with solar power generation solution companies to install solar photovoltaic (PV) generation facilities on the roofs of its customers’ distribution and retail stores, factories and other facilities without any initial payment in Japan and overseas to supply solar electricity to customers in the long term through its distributed solar power supply project.

In Japan, ITOCHU concluded a capital and business alliance agreement with VPP Japan, Inc. (headquartered in Shinagawa-ku, Tokyo; Tomokazu Akita, President; hereinafter “VPP Japan”). VPP Japan aims to have a 100,000 kW distributed solar power source by the end of fiscal 2020, and ITOCHU will collaborate with its group companies and existing customers to accelerate VPP Japan in the expansion of its business. Recently, VPP Japan was selected by NTT DOCOMO, Inc. as one of its business partners to introduce solar PV generation facilities to DOCOMO shops across the country for a stand-alone power supply as part of its disaster preparation measures.

Utilizing the distributed solar power source owned and operated by VPP Japan, ITOCHU jointly with its business partners will build a Virtual Power Plant (VPP) around the community-based facilities, such as distribution and retail stores, with the aim of realizing next-generation power business.

In Asia, ITOCHU will partner with Symbior PMR Co., Ltd. (headquartered in Thailand; Florian Bennhold, Representative; hereinafter “Symbior”). Symbior is a solar power producer with more than 50,000 kW of business experience in Asia and is also a close partner of ITOCHU (Thailand) Ltd., a local subsidiary of ITOCHU, in its business expansion in Thailand.

Recently, Symbior concluded a long-term power purchase agreement for a term of 15 years with Dole Thailand Ltd. (headquartered in Thailand; Simon Francis Denye, Representative; hereinafter "Dolethai"), a processed product plant under Dole Asia Holdings Pte. Ltd. (headquartered in Singapore; Takeshi Kumekawa, Representative), a group company of ITOCHU. Under this contract, Dolethai will purchase electricity generated by a Symbior’s solar PV generation facility installed within Dolethai’s premises in Hua Hin, at a discounted price from the prevailing utility rate, for 15 years.

The solar generation facility covers the area of approximately 18,000 square meters of Dolethai’s rooftop space and it is expected to generate approximately 4,500 MW hours of electricity per year with a capacity of 3 MW. This amount of electricity would be equivalent to approximately 2,500 Thai households of consumption, and it would reduce CO2emissions equivalent to about 2,000 metric tons per year.

ITOCHU upholds policies of optimal energy use and supply and the improvement of management productivity through new technologies in its medium-term management plan, “Brand-new Deal 2020. Becoming a Next-Generation Merchant,” and this initiative fits with these policies. Considering it to be a very significant initiative in terms of promoting sustainability, ITOCHU will take a progressive approach to the use of renewable energy in Japan and overseas through these business activities.

Company name
VPP Japan, Inc.

Representative
Tomokazu Akita

Headquarters
Shinagawa-ku, Tokyo

Established
2017

Shareholders
Energy & Environment Investment, Inc., i GRID SOLUTIONS Inc., ITOCHU Corporation, Electric Power Development Co., Ltd., K4 Ventures Godo Kaisha (group company of The Kansai Electric Power Co., Inc.)

Summary of business
Off-grid power supply service introducing a self-consumption solar power plant under a PPA (third-party ownership model)

Company name
Symbior PMR Co., Ltd.

Representative
Florian Bennhold

Headquarters
Bangkok, Thailand

Established
2010

Summary of business
Solar PV business in Asia (Thailand, Malaysia, China, Philippines, Vietnam and Indonesia)
Contact Information
Symbior Solar
Florian Bennhold
+6621293238
Contact
www.symbiorsolar.com

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