Ryohin Keikaku and JERA have agreed to establish a joint venture, MUJI Energy, to develop solar power projects that will reduce emissions across the MUJI retail estate.
The two companies plan to build around 13MW of solar capacity in the first year, equal to 20% of Ryohin Keikaku’s annual electricity demand.
The project is expected to cut CO2 emissions by about 8000 tonnes annually.
Power will be sold to the Japan Electric Power Exchange, with all environmental value transferred to Ryohin Keikaku via a virtual PPA with JERA subsidiary JERA Cross.
Ryohin Keikaku said the arrangement would help it meet its target of halving Scope 1 and 2 emissions by FY2030 from a FY2021 baseline.
“Now, with the creation of environmental value with additionality through the virtual PPA, we can further reduce CO2 emissions,” the company said.
JERA said the move supports its wider ambition to achieve net zero emissions from its domestic and overseas operations by 2050.
JERA Cross will aggregate and manage the output from MUJI Energy and provide corporate decarbonisation services.
The three companies said the joint initiative would expand the adoption of renewables and support a sustainable, carbon-neutral society.
