Dec. 27, 2012
Oji to develop biomass power plants in Japan [From the web]
TOKYO, Dec. 27, 2012 (Local News) - When the demand for paper products is shrinking year after year, do you just fold up and wait to die? Not for Oji Holdings Corp, which is now focusing on selling biomass power to take advantage of government subsidies for renewable energy and to address the slide in paper sales.
According to Shoji Fujiwara, chairman of Oji Green Resources Co, they are planning to build biomass power plants fueled by wood on the northern island of Hokkaido and the southern island of Kyushu. The company, the world's largest corporate user of renewable energy, will spend 20 billion yen (approx. $233.5 million) to construct the plants and after three years, plans to sell the electricity to be generated by the units. Potential customers for this particular project are Kyushu Electric Power Co. and Hokkaido Electric Power Co. with a potential 2 billion income per year for each utility. Oji is investing around 60 billion yen ($700 million) for solar, geothermal and hydro energy projects.
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