February 26 (Renewables Now) - A group led by Japanese renewables developer Renova Inc has made a final investment decision (FID) and subsequently achieved financial close for the 74.8-MW Tokushima Tsuda biomass power generation project in Tokushima prefecture.
The Tokushima Tsuda Biomass Power Plant, as it is named, will use wood pellets and palm kernel shells (PKS) as a fuel source. Construction is scheduled to commence in the spring of 2019, with commissioning planned for March 2023, Renova said on Monday.
The biomass facility is expected to have an annual power generation of about 500 million kWh, enough to meet the annual consumption of approximately 150,000 households.
Renova is developing this project with six other companies. It holds the largest stake in Tokushima Tsuda at 36.10%. Osaka Gas Co Ltd follows in second with a 33.50% interest. The other five investors are NEC Capital Solutions Ltd and Mitsubishi Electric Credit Corporation, each with a 12.35% stake, and Genboku Co Ltd, Dairi Lumber Co Ltd and Tokushima Denki Sangyo Co Ltd, with 1.90% each.