Post-Completion Right to Purchase an Additional Interest in the Ishinomaki Hibarino Biomass Project
First written in FY2022. 2 of 4 entries say "Softened", first in FY2024-Q2. Latest entry: FY2024.
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- FY2024AchievedAnnual report
「In March 2024, we acquired an additional interest in Ishinomaki Hibarino Biomass Energy GK, which had also been our equity-method affiliate, increasing our investment ratio to 51.0%, and made it a consolidated subsidiary.」
For Ishinomaki Hibarino Biomass, the 13% interest was acquired under the additional acquisition right, increasing the investment ratio to 51.0% and completing the conversion to a consolidated subsidiary. - FY2024-Q3SoftenedAnnual report
「Ishinomaki Hibarino Biomass Energy GK, which had been conducting trial operations toward a January 2024 start of operations, changed the scheduled start of commercial operations to March 2024 because final adjustments to the boiler and turbine equipment for long-term stable operation were taking longer than expected.」
The scheduled start of commercial operations at Ishinomaki Hibarino Biomass was changed from January 2024 to March 2024. - FY2024-Q2SoftenedAnnual report
「Tokushima Tsuda Biomass Power GK and Ishinomaki Hibarino Biomass Energy GK had been conducting commissioning toward commencing operations in September 2023, but required additional time for final adjustments to their boiler and turbine equipment for long-term stable operation. Accordingly, the commercial operation commencement date was changed to December 2023 (scheduled) for Tokushima Tsuda Biomass Power GK and January 2024 (scheduled) for Ishinomaki Hibarino Biomass Energy GK.」
The scheduled start of commercial operations at Ishinomaki Hibarino Biomass was changed from September 2023 to January 2024. - FY2022First statedAnnual report
「We have invested in the Ishinomaki Hibarino Biomass project together with other investors, or joint sponsors. As of 31 March 2022, under the agreement among the project's investors, we had the right to acquire an additional interest held by the joint sponsors, equivalent to an investment ratio of 13.0%, after completion of the power plant. If we exercise this right, our voting interest will be 51.0% and our dividend ratio will be 62.9%. Completion of the power plant was scheduled for May 2023, although the timing could change depending on construction progress.」
For Ishinomaki Hibarino Biomass, the right to acquire an additional 13.0% interest from the joint sponsors after completion was newly specified, together with a voting interest of 51.0%, a dividend ratio of 62.9% upon exercise, and scheduled completion in May 2023.