Japanese retailer Ryohin Keikaku and energy company JERA have agreed to create a joint venture, MUJI Energy, to develop solar power projects aimed at reducing emissions across MUJI retail locations.
The partners plan to install approximately 13 megawatts (MW) of solar capacity in the first year, meeting around 20% of Ryohin Keikaku’s annual electricity demand. The project is expected to cut carbon dioxide emissions by about 8,000 tonnes annually.
Power generated will be sold to the Japan Electric Power Exchange, with all associated environmental benefits transferred to Ryohin Keikaku through a virtual power purchase agreement (PPA) managed by JERA’s subsidiary, JERA Cross.
Ryohin Keikaku said the initiative would support its goal to halve Scope 1 and 2 emissions by fiscal year 2030, using fiscal year 2021 as a baseline.
“Now, with the creation of environmental value with additionality through the virtual PPA, we can further reduce CO2 emissions,” the company said in a statement.
JERA said the partnership aligns with its broader target to achieve net zero emissions from both domestic and international operations by 2050.
JERA Cross will oversee the aggregation and management of MUJI Energy’s output and provide corporate decarbonisation services.
The three entities said the collaboration is intended to accelerate renewable energy adoption and contribute to building a sustainable, carbon-neutral society.
