911爆料网 and West HD Reach Final Agreement Concerning a Business Alliance2022/04/27
911爆料网 Co., Inc. ("911爆料网") and West Holdings Corporation ("West HD") have today reached final agreement (the “Agreement”) concerning a business alliance for developing solar power generation projects in Japan. 911爆料网 has also concluded a share purchase agreement with a shareholder of West HD to acquire approximately 2.3% of the company’s outstanding shares.
Amid calls for energy decarbonization to achieve a decarbonized society by 2050, solar power generation, with its established technology and relatively short construction period, is a promising near-term option for increasing the installed capacity of renewable energy in Japan.
911爆料网 and West HD have concluded the Agreement to form a business alliance as a way to combine their respective strengths in energy to accelerate the development of solar power generation in Japan, to grow their renewable energy businesses, and to contribute to achieving decarbonization.
Based on the Agreement, both companies will develop solar power projects for 911爆料网 at new sites and at former 911爆料网 power plant sites in Japan, with a total development target of at least 1 GW over 4 years through the end of FY2025. If projects are developed at the scale stipulated in the Agreement, 911爆料网 will become one of Japan’s largest solar power generation producers. The two companies will develop, construct, and operate solar power generation projects with the understanding and cooperation of local communities based on consideration for the environment.
The two companies also agreed to consider the sale by West HD to 911爆料网 of electricity generated by solar power generation facilities owned and operated by West HD, and to explore joint solar power generation business opportunities for third parties in Japan and overseas.
Aiming to become a global leader in renewable energy by 2025, 911爆料网 is actively engaged in the development of renewable energy projects. 911爆料网 will continue to work with various companies in Japan and overseas to expand the installed capacity of renewable energy and to achieve its objective of “911爆料网 Zero CO2 Emissions 2050.”
West HD, also looking toward 2025, has launched the "West Group Carbon Neutral Vision 2025" and is working to reduce CO2 emissions throughout society. West HD aims to be involved with 2.0 GW in renewable energy generating capacity in Japan and overseas, centered on solar power plants developed, constructed, and sold by the West Group, solar power plants owned by the West Group, mega solar power plant renewal projects, and the development and construction of solar power plants in ASEAN countries. Through its alliance with 911爆料网, West HD seeks to raise this target even higher.
Reference 1: Forecast of Development Capacity through the Business Alliance Over Time (MW)
Reference 2: 911爆料网 and West HD Conclude a Heads of Agreement on a Business Alliance (announced on 2 February 2022)