Mitsui Fudosan to Roll Out Power Greening to Three Major Metropolitan Areas
Collaboration with KEPCO to Expand to Approx. 180 Facilities Nationwide, Including Kansai Area

March 31, 2022
Mitsui Fudosan Co., Ltd.

Key Points of the Press Release

  • Mitsui Fudosan and The Kansai Electric Power Company, Incorporated (“KEPCO”) will start a collaboration for greening power used in the Kansai area. Mitsui Fudosan will start sequentially from spring 2022 to provide the Green Energy Supply Service*1, which has environmental value for using electricity certified as non-FIT hydroelectric power, to common areas, requesting tenants and others in main facilities that Mitsui Fudosan owns or leases using power supplied by KEPCO.
  • Mitsui Fudosan will be able to roll out power greening*2 to the Kansai area, adding it to the Tokyo and Chubu metropolitan areas to cover three major metropolitan areas
  • Development in the three major metropolitan areas largely completes the support system for customers to solve issues related to RE100 and ESG. The move will apply to approx. 180 facilities and accelerate the rollout of power greening to all facilities owned in Japan by 2030.
  • Currently, approx. 100 companies have introduced the Green Power Supply Service (including those still considering the introduction). Mitsui Fudosan’s Green Energy Supply Service won a New Energy Award 2021 from the New Energy Foundation in recognition of its advanced capabilities and results.
  • 1 Green Energy Supply Service: This service independently established by Mitsui Fudosan essentially supplies renewable energy in office 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 Equivalent to the amount of electricity used by Mitsui Fudosan in shared common spaces (includes some partially owned areas; excludes electricity generated by each facility).

Tokyo, Japan, March 31, 2022 – Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, and The Kansai Electric Power Company, Incorporated (“KEPCO”) announced today that they have concluded a comprehensive agreement on greening power and will start providing new green power from this spring to office buildings and other main Mitsui Fudosan facilities using electricity supplied by KEPCO.

This collaboration expands the Green Energy Supply Service that started with tenant companies in the Tokyo metropolitan area to three major metropolitan areas and almost completes establishment of the platform for nationwide rollout toward the power greening of all its facilities in Japan by fiscal 2030, which Mitsui Fudosan has made a target under the Group Action Plan.

By strengthening their ties and cooperation in actively promoting the use of renewable energy, the Mitsui Fudosan Group and various partners will drive forward steps to address RE100 and ESG issues and help to realize a carbon neutral society together with tenant companies and owners.

Left: Yodoyabashi Mitsui Building, LaLaport EXPOCITY Center: Midosuji Mitsui Building Right: LaLaport KOSHIEN, MFLP Osaka Katano

1. Power Greening the Kansai Area through Collaboration with KEPCO

Mitsui Fudosan will provide the tenanted and common areas of office buildings, retail facilities and more that it owns or leases with the Green Energy Supply Service in which non-fossil fuel certificates are added to show use of non-FIT hydroelectric power owned by KEPCO. It will start from the spring of 2022 in the Yodoyabashi Mitsui Building and Mitsui Midosuji Building*3 and then expand the service in sequence. The plan is start providing the service to tenant companies that have requested it from fiscal 2023, with service provided in advance in some places from the fall of 2022.  Through the comprehensive agreement with KEPCO, power greening will be newly applied to approx. 30 places in the Kansai area*4 including office buildings, retail facilities, logistics facilities and hotels, and the plan is to enable greening of approx. 140 million kWh of energy consumption by fiscal 2030.

  • 3 Mitsui Fudosan’s share of common areas
  • 4 Refers to Shiga, Kyoto, Osaka, Nara, and Wakayama prefectures, Hyogo Prefecture (excluding some areas) and parts of Fukui, Gifu and Mie prefectures

2.Mitsui Fudosan Completed Establishment of Power Greening in Three Major Metropolises, Will Expand to Apply to All Approx. 180 Facilities in Japan

Mitsui Fudosan started the Green Energy Supply Service from April 2021 to respond to RE100 and the SDGs. We have expanded the service platform in collaboration with various partners such as TEPCO Energy Partner, Inc., Electric Power Development Co., Ltd. (“the J-POWER Group”) and Chubu Electric Power Miraiz Co., Inc.

This collaboration with KEPCO basically completes establishment in three major metropolitan areas and effectively completes the platform for the nationwide rollout of power greening.

This will mean Mitsui Fudosan can provide power greening to approx. 180 applicable facilities nationwide and the cumulative planned amount of power provided by fiscal 2030 amount to approx. 960 million kWh.

Mitsui Fudosan’s Green Energy Supply Service is a service that can be flexibly designed and capable of long-term stable supply in response to individual tenant company requests or CO2 reduction targets. The service addresses RE100, ESG and the SDGs and currently approx. 100 companies have contracted the service or giving consideration to introducing it.

Mitsui Fudosan’s Green Power Supply Service system and achievements have received recognition, and it was awarded a New Energy Award 2021*5, New Energy Foundation Chairman’s Award (Field of Products and Services).

  • 5 New Energy Award: An award presented by the New Energy Foundation to businesses that have developed or leveraged a new energy.

New Energy Award
New Energy Foundation Chairman’s Award recipient’s emblem

■ Mitsui Fudosan Group’s contribution to SDGs
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. By further accelerating its ESG management, the Group will realize Society 5.0, which the Japanese government has been advocating, and contribute significantly to achieving the SDGs. Additionally, the Group formulated the following Group guidelines related to “Realize a Decarbonized Society” and “Diversity & Inclusion Promotion” in November 2021. The Mitsui Fudosan Group will continue to work toward solving social issues through neighborhood creation.

Group Action Plan to Realize a Decarbonized Society
Diversity & Inclusion Promotion Declaration and Initiative Policy

*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