Clean energy developer Shizen Energy announced three new 20-year renewable energy purchase agreements with Microsoft for solar power projects in Japan.
The new announcement expands the executed renewable energy purchase deals between the companies to 100 MW across four solar projects, following an initial 25 MW agreement in 2023 for a project in Inuyama City, Microsoft’s first PPA in Japan.
The solar power plants included in the new agreements are located in Japan’s Kyushu and Chugoku regions, including one that has already started operations, while the others are currently under construction. Shizen Energy noted that each of the projects have reached financial close.
In 2021, Microsoft launched a “100/100/0 clean energy goal,” with the company targeting having 100% of its electricity consumption, 100% percent of the time, matched by purchases from zero carbon energy sources by 2030, adding to its prior commitment to use 100% renewable energy in its buildings and datacenters globally by 2025. Microsoft has also committed to become carbon negative by 2030, and to cover 100% of its electricity consumption in its buildings and datacenters globally with renewable energy by 2025.
Rei Ushikubo, Executive Officer of Shizen Energy said:
“Following the Inuyama Project, we are honored to have signed long-term agreements with Microsoft for several new projects. We believe that securing financing from domestic and international financial institutions for these projects is proof of the growing presence of Renewable Power Purchase Agreements in the Japanese market. We will continue to prioritize our power purchase agreement business to support our customers’ decarbonization efforts. “
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
