Allocation of Equity Financing Proceeds to Renewable Energy Development
First written in FY2017-Q4. 1 of 3 entries say "Reframed", first in FY2022. Latest entry: FY2024.
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- FY2024AdvancedAnnual report
「Through this third-party allotment, we allocated 11,877,600 shares of our common stock to Tokyo Gas, representing a 13.04% ownership interest after the third-party allotment.」
We conducted a third-party allotment to Tokyo Gas on 17 April 2024 and raised approximately ¥17.8 billion. The proceeds are scheduled to be allocated to the development and investment of decarbonization businesses, including renewable energy facilities and storage batteries in Japan and overseas. - FY2022ReframedAnnual report
「While it became difficult to make additional allocations to the offshore wind power project off Yurihonjo, Akita Prefecture, following the results of the public offering selection process, additional funding needs arose for development related to the Hakodate Esan geothermal project, the Kiangan hydropower project and other renewable energy development and operation businesses. Accordingly, we decided to allocate part of the amount originally planned for the offshore wind power project off Yurihonjo, Akita Prefecture, to these purposes.」
Regarding the use of ¥13,922 million in proceeds from the bond issuance, the plan was changed from one centered on the Yurihonjo offshore wind power project to one including the Hakodate Esan geothermal project, the Kiangan hydropower project and other development projects. The allocation period was set to run through September 2024. - FY2017-Q4First statedAnnual report
「Use of funds: The proceeds are scheduled to be allocated to upfront expenditures, including surveys related to development carried out by us on behalf of SPCs promoting projects for renewable energy power plants, including solar, biomass, wind and geothermal facilities; obtaining various permits and approvals; resource surveys such as wind condition monitoring; payments of electricity-related contributions; and environmental impact assessments.」
The proceeds from the third-party allotment are scheduled to be allocated to upfront expenditures for surveys of renewable energy power plants, permits and approvals, resource surveys, electricity-related contributions and environmental impact assessments.