Japanese renewable power producer Renova has entered into a virtual power purchase agreement (VPPA) with an undisclosed domestic consumer, focused on the environmental value from upcoming solar plants totaling 18 MW in capacity.
The 20-year agreement, facilitated through Renova's wholly owned subsidiary Second Solar Power GK, will provide the client with non-feed-in-tariff (FiT) non-fossil certificates generated from the output of small-scale, distributed generation (DG) solar photovoltaic (PV) power plants.
Electricity produced by these newly constructed solar facilities will be sold in the wholesale electricity market. Renova noted that the VPPA encompasses approximately 38 GWh of annual electricity production.
Although the commercial operation date (COD) has not yet been specified, the plants will be brought online sequentially.
