Mitsubishi Corporation

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September 8, 2021
Mitsubishi Corporation

MC Signs Japan’s First Long-term Corporate PPA for Online Retail Giant Amazon

Mitsubishi Corporation (MC) is pleased to report that it has signed a long-term Corporate Power Purchase Agreement (Corporate PPA), through which it will supply electricity to data centers owned and operated by the Amazon subsidiary Amazon Web Services, Inc. (AWS). Facilitated by MC Retail Energy Co., Ltd., this Corporate PPA represents Amazon’s first use of renewable energy in Japan.Under the agreement’s terms, West Holdings Corporation will build and maintain roughly 450 solar power stations (with a total installed capacity of approximately 22 megawatts) for Amazon and supply the online retailer with wholesale electricity. MC subsidiaries Mitsubishi Corporation Energy Solutions Ltd. and ElectroRoute will also be involved. The former will manage construction of the solar power facilities and provide tech support, while the latter will forecast the facilities’ outputs and hedge power generation imbalances*. The term of this Corporate PPA is approximately ten years, with commercial operations slated to commence in April 2023.  
MC is aiming to double its 2019 renewable energy output by 2030 and completely eliminate fossil fuels and CO2 emissions from its power-generation portfolio by 2050. Amazon is demonstrating a similar commitment to decarbonize. The company has set a target to use only renewable energies by 2025 and is now making global moves to both develop them and source more green electricity. The first such agreement with Amazon originating in Japan, this Corporate PPA was made possible thanks to MC’s international work in renewable power generation matching the online retail giant’s needs. It will be MC’s second renewable-energy agreement with Amazon, following one signed earlier this year through which MC subsidiary Eneco will provide the retailer with power generated by the offshore wind farm, Hollande Kust Noord.       
With increasing global pressure on both governments and businesses to address climate change, many companies are urgently looking for ways to shift to renewables and cut the greenhouse emissions generated by their operations. As it works to decarbonize, MC remains committed to decreasing its CO2 emissions through independent initiatives. We will work proactively to reduce greenhouse gasses through the development and supply of renewables.  
*Investments to hedge costs incurred through supply-demand imbalances that occur when solar power outputs fail to match their original forecasts.
 [The Companies Involved]
Mitsubishi Corporation
Headquarters:                 2-3-1 Marunouchi, Chiyoda-ku, Tokyo
Main Operations:            MC engages in a wide range of businesses spanning multiple industries and overseen by its 10 Business Groups: Natural Gas, Industrial Materials, Petroleum & Chemicals, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution, and Urban Development.
President and CEO:        Takehiko Kakiuchi
MC Retail Energy Co., Ltd.
Headquarters:                  2-6-1 Marunouchi, Chiyoda-Ku, Tokyo
Main Operations:              Established in 2015 as a 50-50 joint venture between MC and Lawson and in anticipation of the full deregulation of Japan’s power market in 2016, MC Retail Energy Co., Ltd. got its start supplying electricity to households in the Tokyo metropolitan area. Since then, it has expanded its operations to provide power to corporate clients and help with Japan’s regional development work. The company currently serves as a retail electricity supplier to seven of the country’s supply grids.                
President and CEO:        Shinichiro Suzuki
Mitsubishi Corporation Energy Solutions Ltd.
Headquarters:                 2-6-1 Marunouchi, Chiyoda-Ku, Tokyo
Main Operations:            Mitsubishi Corporation Energy Solutions Ltd. was launched in 2015 to inherit MC’s power generation operations in Japan. In addition to its onsite operations, through which it is contracted to provide decentralized power solutions to manufacturing plants, the company is engaged in both thermal and renewable power generation businesses. It also serves as a machinery-specialist shosha, working closely with Japan’s power companies and plant manufacturers to provide a wide array of functions and services.
President and CEO:        Yoshihiro Iwasaki
West Holdings Corporation
Headquarters:                 1-15-24, Kusunoki-cho, Nishi-Ku, Hiroshima
Main Operations:             West Holdings Corporation is an end-to-end renewable energy solutions provider that is engaged in everything from the planning and construction of solar-power plants to equipment maintenance and recycling operations.
Charirman :                      Takashi Kikkawa
Headquarters:                 Dublin, Ireland
Main Operations:            ElectroRoute performs spot, futures and international energy trades in Europe, the world’s leading market for renewables. The company also provides comprehensive support for electricity trading undertaken by power producers, users and retailers. It is currently developing its operations in Japan as well, as the Asian nation continues its efforts to deregulate its domestic power market.
Founder and CEO:         Ronan Doherty  

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