Chubu Electric Power Co Inc set a new goal of newly developing more than 2,000,000kW of renewable energy-based power plants by about 2030.
The previous goal that Chubu Electric set for its renewable energy business was to increase the amount of power generation by 20% (equivalent to a facility capacity of 400,000kW) by 2030. So, the company increased the amount by 400% this time. This was announced by the president of the company at a press meeting that took place Feb 26, 2019.
Chubu Electric is currently operating 191 hydroelectric power plants (excluding pumped-storage hydroelectric plants, total capacity: 2,140,000kW), three solar power plants (total capacity: 17,000kW) and one wind power plant (capacity: 22,000kW), which add up to 2,180,000kW. In 2016, they generated about 8,000,000,000kWh of electricity.
Also, as for renewable energy-based power plants in the Chubu region of Japan, Chubu Electric is currently developing three hydroelectric power plants (total capacity: 13,000kW), one wind power plant (capacity: 7,000kW) and one biomass power plant (capacity: 49,000kW), whose outputs total 69,000kW
Outside the Chubu region, the company is engaged in a biomass power generation project in Yonago City, Tottori Prefecture, Japan. Its investment ratio is 30%. The biomass power plant is scheduled to start operation in March 2020.
If the new development goal is achieved, the total capacity of Chubu Electric's renewable energy-based power plants will increase by 100%. The company plans to invest ¥100 billion (approx US$896 million) in the first year and several hundred billion yen by 2030.
Chubu Electric said that it has high hopes for offshore wind power plants because they are expected to realize high outputs and laws for the long-term use of general sea areas were enacted. The company has already started to consider developing offshore wind power plants in multiple locations including Akita Prefecture, it said.