September 27, 2022
Osaka Gas Co., Ltd. (President: Masataka Fujiwara, “Osaka Gas”), GPSS Holdings Inc. (CEO: Masaaki Mezaki, “GPSS”), Tokyu Corporation (President: Kazuo Takahashi, “Tokyu”), Tokyu Recreation Co., Ltd. (President: Shinzo Kanno, “Tokyu Recreation”), and Tokyu Power Supply Co., Ltd. (President: Kenji Murai, “Tokyu Power Supply”) are pleased to announce that they will jointly work on building an off-site corporate PPA model*1 that utilizes new medium- and small-sized solar power plants (the “Project”).
In the Project, Osaka Gas and GPSS will newly develop medium- and small-sized solar power plants, and the renewable electricity supplied from these power plants is planned to be used by large-scale complex facilities owned and (being) developed by Tokyu and Tokyu Recreation. The Project has been selected as a recipient of the Subsidy for Promoting Consumer-led Introduction of Solar Power Generation (Main Budget for FY2022) (the “Subsidy”),*2, 3 which is publicly offered by the Ministry of Economy, Trade and Industry.
More specifically, GDsPJ LLC, in which Osaka Gas and GPSS each have a 50% stake, will first develop eight new non-FIT and non-FIP solar power plants in Japan with a total generation capacity of approximately 9,000 kW, and the power plants will generate renewable electricity with additionality. Then, through coordination by Tokyu Power Supply, this electricity will be used stably over the long term by the following three large-scale complex facilities owned and (being) developed by Tokyu and Tokyu Recreation as part of the electricity they use: Shibuya Stream, Grandberry Park, and Tokyu Kabukicho Tower. The Project will be Japan’s first*4 project by a real estate developer, a renewable energy developer, and an energy company to build an off-site corporate PPA model with the Subsidy.
For the achievement of the Japanese government’s goal of going carbon neutral by 2050, various stakeholders need to collaborate to promote not only the production of renewable energy but also its consumption with the aim of making renewable energy the main power source.
With the aim of further expanding their collaboration in the renewable energy business, the five companies will strive for the realization of a decarbonized society through the development of renewable energy power plants and urban development that utilizes renewable energy.
・Schematic diagram of the Project
Attachment 1: The three Groups’ individual efforts related to renewable energy
In June 2021, Osaka Gas signed an agreement with GPSS on the joint development of medium- and small-sized solar power plants.*1 Osaka Gas has been considering how to further develop renewable energy power sources, and the Project is part of such efforts. Furthermore, in January 2021, the Daigas Group announced its “Carbon Neutral Vision,” which outlines the following efforts toward the realization of a carbon-neutral society by 2050: carbon neutrality of raw materials for city gas production mainly by methanation using renewable energy and hydrogen, and the decarbonization of power sources mainly through the introduction of renewable energy. However, technological innovation for the realization of a carbon-neutral society takes a considerable amount of time and social cost. Therefore, as a milestone toward the goal, the Group set a target of contributing to the development of renewable energy power sources worth 5,000 MW*2 both in Japan and overseas, including in-house development/ownership and procurement from other companies, by FY2030. The Group’s contribution to the development of renewable energy power sources, including in-house development/ownership and procurement from other companies, is worth about 1,500 MW so far.
In June 2021, GPSS signed an agreement with Osaka Gas on the joint development of medium- and small-sized solar power plants.*1 GPSS has been considering how to further develop renewable energy power sources, and the Project is part of such efforts. To realize a Sustainable Society beginning from the Local Community, the GPSS Group has been running the business of relating sustainable energy with the gifts of nature (resources that can continue to be used without being depleted, including solar, geothermal, water, wind, and waste). We utilize these potentials that all exist in the local regions in the form of a joint project with each community.
In the “Environmental Vision 2030” it announced at the end of March 2022, the Group set “11 Actions” to take toward the realization of a decarbonized and recycling-based society. One of the actions is to “create renewable energy,” and the Project is part of the Group’s efforts to promote this. In its promotion of urban development, the Tokyu Group has placed importance on “harmony between people, towns, and the environment.” Shibuya Stream is part of the development of Shibuya into an environmentally advanced city. This facility promotes the coexistence of people and nature in an urban center, and one example of such efforts is a revamp of the Shibuya River under a public-private partnership. Minami-machida Grandberry Park is a new town that integrates a station, a commercial facility (Grandberry Park), and a park. Tokyu Kabukicho Tower is a skyscraper complex housing hotels and entertainment facilities, which is scheduled to open in April 2023. These three facilities are symbols of new and recent urban development projects the Group has been promoting in Shibuya and the areas along Tokyu lines in close collaboration with the local communities. The Project, which will take place in these symbolic facilities, will secure a foothold for the Group for the achievement of one of its most important goals—harmony between towns and the environment.
Overview of the large-scale complex facilities to which renewable energy will be supplied
(1) Shibuya Stream overview
Facility developers: Tokyu Corporation, etc.
Location: 3-21-3 Shibuya, Shibuya-ku, Tokyo, Japan
Primary uses: Offices, stores, a hotel, a concert hall, and parking
Ground area: Approx. 7,100 m2
Total floor area: Approx. 116,000 m2
Number of stories: 35 above ground and four underground
Official website: https://shibuyastream.jp/
Shibuya Stream is a large-scale complex facility developed as part of a project to redevelop the site of Toyoko Line Shibuya Station’s platforms and tracks and the area around it. Under a public-private partnership, the Shibuya River was revamped to have revetments where clear processed water rolls down like fountains. The facility has open spaces (“hiroba”) and a leafy promenade, offering a rare relaxing waterfront area.
“Shibuya Slow Stream” is held regularly at Inaribashi Hiroba and Konnoubashi Hiroba, which are in front of Shibuya Stream, and on the Shibuya River Street along the Shibuya River, creating a lively bustle and personal exchanges. This event is always held with an activity to clean the area along the Shibuya River to help beautify the environment.
(2) Minami-machida Grandberry Park*1 overview
Grandberry Park (a commercial facility) overview
Facility developers: Tokyu Corporation and Tokyu Recreation Co., Ltd.
Facility operator: Tokyu Malls Development Corporation
Location: 3-3-1, 3-4-1, etc. Tsuruma, Machida City, Tokyo, Japan
Number of stores: 244
Ground area: Approx. 83,000 m2
Total floor area: Approx. 151,000 m2
Official website: https://gbp.minamimachida-grandberrypark.com/en/
Minami-machida Grandberry Park is a public-private project to redevelop urban infrastructure, a commercial facility, a city park, and a station in an integrated manner with a mix of bustle and nature. In 2020, the complex facility was recognized for its landscape design using green infrastructure*2 and other environmentally friendly efforts and awarded Gold certification for LEED ND (Neighborhood Development) and LEED NC (New Construction). LEED®*3 is an international environmental certification program. LEED ND Gold certification was granted for the development area including the station building, while LEED NC Gold certification was granted for the station building architecture. These were Japan’s first ever LEED ND and NC Gold certifications granted.
In 2022, Machida City and Tokyu signed an agreement on the promotion of environmental measures at Minami-machida Grandberry Park with the aim of creating a sustainable urban community.
(3) Tokyu Kabukicho Tower (Kabukicho 1-chome area development plan) overview
Facility developers: Tokyu Corporation and Tokyu Recreation Co., Ltd.
Location: 1-29-1 Kabukicho, Shinjuku-ku, Tokyo, Japan
Primary uses: Hotels, a theater, a movie theater, stores, and parking
Ground area: 4,603.74 m2
Total floor area: Approx. 87,400 m2
Number of stories: 48 above ground, five underground, and one rooftop tower
Height: Approx. 225 m
Inauguration: April 2023 (scheduled)
Official website: https://tokyu-kabukicho-tower.jp/en/
This urban development project in the Kabukicho area of Shinjuku, one of the world’s leading urban tourism bases, covers the construction of a high-rise complex facility and an airport-bus station and the refurbishment of Seibu Shinjuku Ekimae-dori Street. This complex will house a movie theater, a theater, a concert hall, and other entertainment facilities that showcase diverse cultures, as well as hotels that feature local urban culture such as art and music. Moreover, through area management that integrates this complex with the public space centered on Kabukicho Cinecity Square (adjacent to the complex), this project aims to create a bustling town where people can enjoy strolling around. This project is going smoothly toward the inauguration of the complex, which is scheduled for April 2023.
In addition to such contribution to urban development, this project implements various initiatives to reduce environmental impact and CO2 emissions, including the introduction of regional air-conditioning, heat load reduction, and efficient use of various energies. This project aims for environmental performance at grade 3 in Tokyo’s environmental evaluation system (based on ERR and PAL) and equivalent to rank A in the CASBEE assessment.
|Company Name||GDsPJ LLC|
|Head Office||Chuwa Bldg. 3F, 2-2-10 Shibakoen, Minato-ku, Tokyo, Japan|
|Established||June 21, 2022|
|Main Business||Ownership and management of solar power plants|
Osaka Gas Co., Ltd.
|Company Name||Osaka Gas Co., Ltd.|
|Head Office||4-1-2 Hiranomachi, Chuo-ku, Osaka, Japan|
|Representative||Masataka Fujiwara, President and Representative Director|
|Capital||132.16666 billion yen|
|Established||April 10, 1897|
|Main Business||Production and sale of gas; generation and sale of electricity etc.|
GPSS Holdings Inc.
|Company Name||GPSS Holdings Inc.|
|Head Office||Shibakoen ND Bldg. 6F, 2-5-10 Shiba, Minato-ku, Tokyo, Japan|
|Representative||Masaaki Mezaki, Co Representative Board Director and CEO|
|Capital||200 million yen|
|Main Business||Sustainable energy-related development, EPC investment, etc.|
|Company Name||Tokyu Corporation|
|Head Office||5-6 Nanpeidaicho, Shibuya-ku, Tokyo, Japan|
|Representative||Kazuo Takahashi, President and Representative Director|
|Capital||121,724 million yen (as of March 31, 2021, rounded off to the nearest million)|
|Established||September 2, 1922|
|Main Business||Real estate rental, sales, etc.|
Tokyu Recreation Co., Ltd.
|Company Name||Tokyo Recreation Co., Ltd.|
|Head Office||24-4 Sakuragaoka-cho, Shibuya-ku, Tokyo, Japan|
|Representative||Shinzo Kanno, President and Representative Director|
|Capital||7 billion yen (as of December 31, 2021)|
|Established||June 15, 1946|
|Main Business||Cinema, life design, and real estate|
Tokyu Power Supply Co., Ltd.
|Company Name||Tokyu Power Supply Co., Ltd|
|Representative||Kenji Murai, President and CEO|
|Capital||2,550 million yen (as of March 31, 2021)|
|Established||October 1, 2015|
|Main Business||Electricity retail and gas agency business|