Renova delays 75-MW biomass plant launch to 2025

This is expected to affect revenue.

Japan’s Renova Inc. has announced that the launch of the Omaezakikou Biomass Power Plant has been rescheduled to March 2025 from October 2024 due to additional time needed for final adjustments to the boiler and turbine facilities to ensure stable operation.

The plant is owned by Omaezakikou Biomass Energy G.K., an equity method affiliate of Renova.

In a statement, Renova said it has rescheduled the feed-in-tariff (FIT) period of the 75-megawatt project. It has also received liquidated damages from the EPC for a certain period of time due to the change in the commencement of commercial operation based on the contract.

Due to this change, Renova expects the revenue of Omaezakikou G.K. for the current fiscal year ending 31 March 2025 to decrease by approximately $34.95m (JPY5b). However, the impact on operating income and profits below operating income are expected to be limited.

$1 = JPY143.25

Follow the link s for more news on

Japan

renewable energy

Also Read

ADB grants $15m to boost Tajikistan’s grid upgrade

Eco Wave enters Asian market with onshore wave project in Taiwan

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit