Electric Power Development Co Ltd (J-Power) (TYO:9513) has entered into an aggregation service contract with a subsidiary of local firm Photon Capital LLC for electricity generated from approximately 20 MW direct current (DC) of solar power projects across Japan.
The agreement forms part of a virtual power purchase agreement (VPPA) orchestrated by Photon with a major Japanese manufacturer, as announced by J-Power on Friday.
Under the VPPA, J-Power assumes the role of aggregator, tasked with responsibilities including power supply balancing, output management, forecasting, and power trading.
Photon Capital plans to develop seven new high-voltage photovoltaic (PV) parks on idle land in Hokkaido, Tohoku, and Chugoku regions. Concurrently, the company has secured nonrecourse project financing from ORIX Bank Corporation, according to J-Power.
The collaboration underscores efforts to expand renewable energy capacity in Japan, leveraging underutilized land for sustainable energy generation.
