The Tottori Bank entered into a corporate PPA to procure electricity from a prefectural hydropower plant generated from renewable energy under a long-term contract. It plans to purchase electricity from the prefectural Shinhatago Hydropower Plant through Chugoku Electric Power from April 2027 through March 2031, contributing to reductions in CO2 emissions.
The Tottori Bank announced on 23 October that it had entered into a corporate PPA with Tottori Prefecture and Chugoku Electric Power to purchase electricity from a prefectural hydropower plant. The contract is intended to secure a stable supply of renewable electricity over the long term.
The contract runs from April 2027 through March 2031. Renewable electricity generated at the prefectural Shinhatago Hydropower Plant will be supplied to customers through Chugoku Electric Power. This will allow the Tottori Bank to promote local production for local consumption and reduce CO2 emissions.
The Tottori Bank has identified climate change measures as one of its management priorities and has set a target of reducing CO2 emissions by 60% from FY2013 levels by FY2030 and achieving net zero in FY2050. The agreement is expected to contribute to achieving these targets through the use of renewable energy.
The initiative follows the structure of a PPA, under which electricity generated by a power producer is supplied to customers through a retail electricity provider, and is positioned as a means of introducing decarbonized electricity without initial investment.