Mitsui Fudosan and Chubu Electric Power Miraiz
Sign First Comprehensive Agreement in the Chubu Region
Will Begin Offering the Decarbonized Green Energy Supply Service

March 28, 2022
Mitsui Fudosan Co., Ltd.
Chubu Electric Power Miraiz Company, Incorporated

Key Points of this Press Release

• Mitsui Fudosan and Chubu Electric Power Miraiz concluded a partnership related to greening power.
• In the Chubu region where Chubu Electric Power Miraiz supplies electrical power, Mitsui Fudosan will begin offering the Green Energy Supply Service*1, which adds environmental value to electricity usage such as post-FIT residential solar power generation for tenants of the main facilities that Mitsui Fudosan owns and subleases, starting sequentially in April 2022. This system will be the first of its kind in the Chubu region.
• Mitsui Fudosan will establish a new platform in the Chubu region for greening power*2 at all of its domestic facilities by FY2030, and expand its scope to help tenant companies address RE100, ESG issues, etc.

• 1　Green Energy Supply Service: This service independently established by Mitsui Fudosan essentially supplies renewable energy in offices and other buildings through the use of non-fossil fuel certificates. It is compliant with international standards such as RE100, and features flexibility regarding the ratio of green power, etc.
• 2　Power corresponding to the common areas owned by Mitsui Fudosan (includes some partially owned areas; excludes electricity generated by each facility).

Tokyo, Japan, March 28, 2022 – Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, and Chubu Electric Power Miraiz Company, Incorporated (“Chubu Electric Power Miraiz”) announced today that they have signed a comprehensive agreement related to the greening of power consumption (“the agreement”) at offices and other buildings. Starting this April, Mitsui Fudosan will begin newly offering green power to facilities supplied with power by Chubu Electric Power Miraiz.

This initiative will involve stably offering power over a long term with net zero emissions to multiple tenant companies, such as those in office buildings, by using non-fossil fuel certificates with added environmental value derived from post-FIT residential solar power generation. It will be the first initiative of its kind in the Chubu region, covering Aichi, Gifu, Mie, central Shizuoka, and Nagano Prefectures.

The Mitsui Fudosan Group and Chubu Electric Power Group will continue to deepen their partnership and actively further development and utilization of renewable energy. In doing so, they will promote initiatives for addressing RE100 and solving ESG issues and help to realize a decarbonized society together with tenant companies and their owners.

Left: Nagoya Mitsui Building Main Building and Nagoya Mitsui Building New Building, Center: Nagoya Mitsui Building North Building
Upper right: RAYARD Hisaya-odori Park, Lower right: MITSUI OUTLET PARK JAZZ DREAM NAGASHIMA

1. Background

According to its Group Action Plan to Realize a Decarbonized Society announced in November 2021, Mitsui Fudosan aims to convert all domestic facilities to green power by FY2030 and has been actively promoting greening power in the Tokyo metropolitan area since April 2021.

Chubu Electric Power Miraiz provides renewable energy-derived power such as electricity as Miraiz Green Denki in order to comprehensively support its customers’ transition to carbon neutrality.

Realizing a partnership between these two companies will enable the usage of green power at Mitsui Fudosan’s main facilities in the Chubu region.

2. System and Overview

Through the agreement, both companies will provide the Green Energy Supply Service in the tenanted and common areas of 13 facilities, including office buildings and commercial facilities that are owned and subleased by Mitsui Fudosan in the Chubu region. These services feature added environmental value, including residential solar power generation once the term to purchase power through feed-in tariffs (FIT) has ended (post-FIT) and non-FIT hydropower. Mitsui Fudosan and Chubu Electric Power Miraiz will begin with Nagoya Mitsui Building Main Building and Nagoya Mitsui Building North Building* this April, and sequentially expand services. The plan is to offer the service to requesting tenant companies starting in FY2023.

* Common spaces of buildings owned by Mitsui Fudosan

Under the agreement, Mitsui Fudosan plans to green approximately 60 million kWh of power consumption in FY2030. Moreover, the accumulated total of all comprehensive agreements up to now is scheduled to exceed approximately 700 million kWh (in FY2030).

Conceptual image of greening power system

Mitsui Fudosan’s Green Energy Supply Service enables flexible planning in accordance with the aspirations of each tenant company and CO2 reduction goals as well as a long-term, stable supply of energy. The service complies with initiatives such as RE100, ESG, and SDGs, and currently approximately 100 tenant companies are considering contracts and introduction.

Furthermore, the Company received the New Energy Award* in 2021 in recognition of this system and its achievements.

Emblem of the New Energy Foundation’s Chairman’s Award

* New Energy Award: An award sponsored by the New Energy Foundation that is bestowed upon legal entities excelling in the development or utilization of new types of energy. In 2021, Mitsui Fudosan received the New Energy Foundation’s Chairman’s Award.
Reference URL:　https://www.nef.or.jp/award/kako/r03/b_09.html (Japanese)

Going forward, both companies will proactively evaluate the development and utilization of renewable energy (including self-consumption models of renewable energy developed by Mitsui Fudosan). In addition, the companies will deepen their partnership, promote initiatives toward RE100 and ESG issues together with tenant companies, and help achieve the SDGs, reduce greenhouse gas emissions, and realize a decarbonized society.

■ Mitsui Fudosan Group’s Initiatives to Realize a Decarbonized Society

Based on its philosophy of seeking to link diverse values, coexist in harmony with society, and achieve a sustainable society, the Mitsui Fudosan Group aims for a society that enriches both people and the planet. To that end, it is driving forward an array of initiatives, including forest conservation operations in Hokkaido. Under the Group long-term business plan, VISION 2025, announced in 2018, Mitsui Fudosan also looks to realize Society 5.0, which the Japanese government has been advocating, and contribute significantly to achieving the SDGs by further accelerating its ESG management; i.e., operating with an awareness of the environment (E), society (S) and governance (G).

In November 2021, Mitsui Fudosan established the Group Action Plan to Realize a Decarbonized Society. The Group has been working with partners to achieve the plan’s targets of a 40% reduction in CO2 emissions by FY2030 and net zero emissions in 2050.

* News release issued November 24, 2021: “Group Action Plan to Realize Decarbonized Society”
https://www.mitsuifudosan.co.jp/english/corporate/news/2021/1124/
* About Mitsui Fudosan’s ESG and sustainability initiatives
https://www.mitsuifudosan.co.jp/english/esg_csr/carbon_neutral/

■ Chubu Electric Power Group’s Initiatives to Realize a Decarbonized Society

In March 2021, the Chubu Electric Power Group formulated Zero Emissions Challenge 2050 to take on the challenge of achieving net zero CO2 emissions for its entire business by 2050 as a new target to contribute to the realization of a decarbonized society. The Group will work to maximize the usage of non-fossil fuels, implement next-generation technology, and decarbonize fossil fuels to eliminate carbon from the electricity provided to customers. Also, by engaging in a triad of initiatives consisting of energy saving, energy creation, and energy activation, the Group will promote a balance between solving issues concerning customers’ enriched lives and business issues and decarbonization together with communities and customers.
* Zero Emissions Challenge 2050
https://www.chuden.co.jp/english/esg/environment/zeroemissions/

■ About the Sustainable Development Goals (SDGs)

The Sustainable Development Goals (SDGs) are a set of international goals for 2030 adopted by the UN Summit in 2015. Seventeen goals and 169 targets have been set, with various entities required to work together to achieve them. This project is intended to contribute to the following four goals in particular.