International Finance
EnergyFeatured

Amazon signs its first renewable energy deal in Japan

Amazon renewable energy-IFM_Image
The e-commerce giant signed a MoU with Mitsubishi to build solar power stations in the country

Amazon has signed its first renewable energy deal in Japan, according to media reports. The e-commerce giant has signed a memorandum of understanding (MoU) with Mitsubishi Corporation to develop solar power stations in the country and procure renewable energy from them to power its data centres.

Amazon signed a 10-year corporate power purchase agreement (PPA) with Mitsubishi for the output from 22MW of solar PV plants. Japan-based solar energy firm West Holdings will build 450 power stations in the Tokyo Metropolitan area and Tohoku region.

Amazon is aiming to source 100 percent of its energy demands for its corporate activities from renewable sources by 2025. Amazon’s cloud unit AWS is using corporate PPAs across the globe to procure clean energy.

Mitsubishi said that two of its subsidiaries will be involved with the projects. While Mitsubishi Corporation Energy Solutions will assist with constructing and offering tech support to the solar facilities, ElectroRoute will forecast solar output and hedge imbalances in power generation.

Recently, it was also reported that German developer Wpd will invest and co-develop the Saikai Enoshima offshore wind project off the coast of Japan. The project aims to construct and operate offshore wind farms with a maximum output capacity of close to 300 MW in the offshore Enoshima, Saikai City, Nagasaki Prefecture.

Wpd has joined hands with Japan Renewable Energy Corporation (JRE) in this regard. Japan has outlined up to 45 GW offshore wind ambition by 2040 and plans to execute offshore wind auctions every year.

What's New

IF Insights: Australia’s big fight against scams

IFM Correspondent

After Donald Trump’s historic win, investors savour ‘red sweep’ possibilities

IFM Correspondent

Start-up of the Week: Prelude & the art called fraud-resistant SMS verification services

IFM Correspondent

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.