Investment in the Sendai Gamo Biomass Power Plant and the right to acquire an additional ownership interest after completion
First written in FY2021-Q2. 1 of 3 entries say "Advanced", first in FY2022. Latest entry: FY2024-Q3.
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- FY2024-Q3AchievedAnnual report
「In December 2023, the company additionally acquired an interest in Mori no Miyako Biomass Energy G.K., previously an equity-method affiliate (investment ratio: 60.0%), and made it a consolidated subsidiary.」
The equity interest in 杜の都バイオマス, which operates the Sendai Gamou Biomass Power Plant, increased from 29% to 60% through an additional acquisition, completing its consolidation as a subsidiary. - FY2022AdvancedAnnual report
「As of 31 March 2022, the company had invested in the Sendai Gamou Biomass project, operated through 合同会社杜の都バイオマスエナジー, together with other investors, the co-sponsors. As of 31 March 2022, under the investors’ agreement for the project, the company had the right to acquire an additional interest equivalent to the co-sponsors’ 31.0% interest after completion of the power plant. If the company exercises this right, its voting interest will be 60.0%. Completion of the power plant is scheduled for November 2023, although the date may change depending on construction progress.」
The company reconfirmed the planned November 2023 completion of the Sendai Gamou Biomass project, the right to acquire an additional 31.0% interest, and the 60.0% voting interest following exercise of the right. - FY2021-Q2First statedAnnual report
「In October 2020, the company entered into loan-related agreements with financial institutions for the large-scale biomass power project led through 合同会社杜の都バイオマスエナジー, an equity-method affiliate, and arranged project financing for the construction and operation of a wood-fired biomass power plant, the Sendai Gamou Biomass Power Plant. The company’s equity interest in the affiliate is 29.0%. The company also has the right, after the completion date of the Sendai Gamou Biomass Power Plant, to acquire an additional 31.0% interest in the special-purpose company from the co-sponsors. If the company exercises this right, its equity interest in the affiliate will be 60.0%.」
In October 2020, the company entered into loan-related agreements and arranged project financing for the Sendai Gamou Biomass Power Plant. Its current equity interest is 29.0%; if it exercises its right to acquire an additional 31.0% interest from the co-sponsors after completion, its equity interest will be 60.0%.