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Next is the state of engagement in the renewable energy business.
Under the current medium-term management plan, the field of the cyclical reinvestment business is being expanded.
Infrastructure, industries, hotels, residences for students and other similar assets will be added to the existing assets for investment such as offices, commercial facilities and houses for rent to increase the earning power.
For the past half year, investments in the renewable energy business, mainly solar/wind power generation, have advanced.
In August, a capital and business alliance was entered into with the developer of the renewable energy business, Renewable Japan Co., Ltd. A joint development for about 250MW of the right to the renewable energy business held by Renewable Japan Co., Ltd. was decided. Pipelines have been secured.
In addition, in July, at Kushiro, Hokkaido the construction works of Japan’s largest-scale mega solar power plant equipped with batteries commenced under a collaboration with Mitsubishi UFJ Lease & Finance Company Limited and Green Power Development Corporation of Japan toward operation for the fiscal year 2019.
The state of securing the projects for the renewable energy business at the end of September is eight properties in operation, eight solar power plant projects and two wind power plant projects under development (ten in total).
The investment amount at the end of September is ¥21.5 billion.
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