Mitsui & Co., Ltd. has signed a virtual power purchase agreement (VPPA) with NIKE Japan Group, LLC to supply renewable energy certificates generated from domestic solar power projects.
Under the long-term agreement, Mitsui and its wholly owned subsidiary Mitsui & Co. Project Solutions will provide Non-FIT Non-Fossil Certificates (NFCs) sourced from 16 solar power plants located within the TEPCO Power Grid area. The contract covers 18MW of capacity, including 3MW from new solar developments and 15MW from recently commissioned projects.
The arrangement will enable NIKE Japan to source 100% of the electricity used across its owned and operated facilities in Japan — including distribution centres, retail stores and offices — from renewable energy.
Mitsui said it will leverage its experience in electricity sales and supply-demand balancing, alongside Mitsui & Co. Project Solutions’ expertise in renewable energy development and asset management, to support the broader expansion of renewable energy in Japan.
