Equis Development Pte Limited has announced has secured $282 million of non-recourse project financing for the 50 MW Niigata East Port Biomass Power Plant located in Niigata in Japan. …
The financing was pledged by fourteen syndication banks and insurance companies, led by Sumitomo Mitsui Trust Bank and Daishi Hokuetsu Bank. Construction work will begin from May 2022 with commercial operation scheduled in October 2024. The plant will generate power from sustainable wood pellets or palm kernel shells. The energy produced is expected to supply the needs of approximately 117,000 households and save nearly 190,000 tonnes of greenhouse gas (GHG) emissions annually. Tohoku Electric will act as the owner’s engineer during the design and construction of the project. It will operate the project under a long-term operations and maintenance (O&M) agreement. Thisis Equis’ third sustainable biomass project in Japan.