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2020

* Information contained in this news release is current as of its date of announcement. Be aware that information contained herein is subject to change without notice.

Mitsui Fudosan and TEPCO Energy Partner
Sign Comprehensive Agreement on Greening Power Used in Office and Other Buildings - Japan’s First Scheme to Stably Provide Green Energy to Tenants Utilizing Post-FIT Residential Solar Power Generation -

December 21, 2020
Mitsui Fudosan Co., Ltd.
TEPCO Energy Partner, Incorporated

Key Points of this Press Release

  • Both companies today concluded a comprehensive agreement on greening power used in office buildings, etc.
  • In April 2021, TEPCO Energy Partner will start sequentially supplying new renewable energy with environmental value, such as that derived from post-FIT (Feed in Tariff) residential solar power generation, to tenants, etc. of office buildings owned or managed by Mitsui Fudosan.
  • It will be the first initiative in Japan to stably supply green electricity with environmental value derived from post-FIT residential solar power generation in response to requests from individual tenant companies.
  • The comprehensive agreement plans to make about 600 million kWh of electricity green by fiscal 2030, and through collaboration and cooperation by both companies, contribute to moving ahead on addressing the RE100 initiative and environment, social and governance (ESG) issues, achieving the Sustainable Development Goals (SDGs) and realizing a decarbonized society.

Tokyo, Japan, December 21, 2020 - Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, and TEPCO Energy Partner, Incorporated announced today that they have concluded a comprehensive agreement on greening power used in office buildings, etc.

The development and utilization of renewable energies has garnered social attention as the Paris Agreement enacted in 2015 aims for a decarbonized society and the Japanese government has announced a growth strategy with the goal of carbon neutral by 2050.
Tenant companies in office buildings in particular requested the introduction of green electricity to realize their targets on RE100, ESG or SDGs, but providing services to meet the needs of a diverse range of tenants was a challenge. Mitsui Fudosan and TEPCO Energy Partner jointly considered the issue based on a strong partnership over many years to respond to these requests as soon as possible, which led to the conclusion of this agreement.

Through the conclusion of this agreement, the companies will provide renewable energy services with environmental value, such as that derived from residential solar power generation for which the feed-in tariff power purchase periods have expired (post-FIT), to tenanted and common areas of office buildings, etc. owned or managed by Mitsui Fudosan. Services will start sequentially, centered on office buildings in the Tokyo metropolitan area, beginning with Tokyo Midtown Hibiya and other places from April 2021.

Under this renewable energy service, Mitsui Fudosan will contract with TEPCO Energy Partner to purchase green electricity and provide that to the tenanted and common spaces of office buildings, etc. that it owns or manages. This enables tenant companies to use electricity with environmental value in response to their requirements.

This will be the first case in Japan to stably supply green electricity with environmental value derived from post-FIT residential solar power generation in response to the requirements of individual tenant companies.

This comprehensive agreement plans to make about 600 million kWh of usable electricity green by fiscal 2030.

Both companies will continue to deepen collaboration and cooperation going forward to proactively examine development and utilization of renewable energies and work together with tenant companies to advance solutions to RE100 and ESG issues and contribute to achieving SDGs, eliminating greenhouse gas emissions and realizing a decarbonized society.

■Overview of the Comprehensive Agreement

Agreement name Comprehensive Agreement Related to Greening Power Consumption
Applicable facilities Office buildings, etc. that have electric supply and demand agreements concluded between Mitsui Fudosan and TEPCO Energy Partner
Applicable period of agreement Fiscal 2021-2030 (extension possible)
Type of green energy Green electricity complying with the RE100 initiative, etc. (Certified non-fossil electricity, etc. derived from post-FIT residential solar power generation, etc.)

■Mitsui Fudosan Group’s Contribution to SDGs

https://www.mitsuifudosan.co.jp/english/corporate/esg_csr/
The Mitsui Fudosan Group aims for a society that enriches both people and the planet under the principles of coexist in harmony with society, link diverse values and achieve a sustainable society, and advances business with an awareness of the environment (E), society (S) and governance (G), thus promoting ESG management.
Mitsui Fudosan is accelerating its advances to address climate change, joining RE100 in February 2020, setting a goal of consuming energy in business activities that is derived 100% from renewable energies in addition to aiming for a target of zero emissions of greenhouse gases by 2050.

*The initiatives covered in this press release are contributing to four of the UN’s SDGs.

Goal 7 Affordable and Clean Energy
Goal 9 Industry, Innovation and Infrastructure
Goal 11 Sustainable Cities and Communities
Goal 13 Climate Action