Marubeni Power Retail Joins the 24/7 Carbon-Free Energy Compact, a Global Initiative Launched under UN-Energy

– Working with partners in Japan toward 24/7 carbon-free electricity, with renewable energy at its core –

Marubeni Power Retail Corporation (“MPR”), a wholly owned subsidiary of Marubeni Corporation, today announced that it has joined the 24/7 Carbon-Free Energy Compact (the “24/7 CFE Compact”) as a signatory. The 24/7 CFE Compact is a global initiative launched under UN-Energy.

24/7 CFE (24/7 Carbon-Free Energy) is the concept of meeting electricity consumption with power from sources that emit no carbon dioxide (carbon-free sources) during every hour in which electricity is used. In addition to the conventional approach of using energy attribute certificates (EACs) on an annual basis, it also aims to decarbonize the power system as a whole by procuring carbon-free electricity with attention to when and where the electricity is consumed.

MPR endorses the vision and the five principles set out by the 24/7 CFE Compact.

■ About the 24/7 CFE Compact

The 24/7 Carbon-Free Energy movement is coordinated by Sustainable Energy for All, the United Nations, and a growing list of signatories from companies, organizations, and governments around the world. The Compact is an ambitious global effort to accelerate the decarbonization of the world’s electricity systems to mitigate climate change and ensure access to clean and affordable electricity for all, in line with SDG7. Its signatories from around the world, including companies, national and local governments, and energy companies, are advancing the decarbonization of electricity based on five principles: “Time-matched procurement,” “Local procurement,” “Technology-inclusive,” “Enabling new generation” and “Maximizing system impact.”

Website: https://gocarbonfree247.com/

■ Our Initiatives

To support its customers’ decarbonization, MPR has pursued the following initiatives related to the concept of 24/7 CFE, spanning power source procurement, time-of-day electricity use, disclosure of power source attributes, and renewable energy adoption on the customer side.

• Off-site corporate PPAs*1: Supplying customers with electricity from specific, identified renewable energy power plants
• Operation of grid-scale battery storage: Storing electricity, including renewable electricity, so that it can also be used during peak-demand hours
• Renewable electricity plans: Offering electricity plans that use non-fossil certificates derived from renewable sources, with tracking information*2, among other means
• Provision of renewable energy equipment and facilities: Supporting the adoption of renewable energy through sales of solar panels, battery storage systems and more

■ Looking Ahead

MPR will work together with its partners toward a society in which carbon-free electricity, centered on renewable energy, can be used at every hour of the day. Drawing on the expertise it has developed in renewable energy procurement and supply, battery storage operation, and power supply-demand management, MPR aims to develop mechanisms and services that enable renewable energy to be used on an hourly basis, and to deliver them to its customers.

Linking electricity with its environmental attributes on an hourly basis requires systems that connect generation, consumption and trading data. MPR will share knowledge with stakeholders in Japan and overseas, including fellow signatories of the 24/7 CFE Compact. It also invites a broad range of partners across industries and roles to collaborate, including power producers, companies providing technologies and platforms for hourly tracking and matching, and customers. Through these efforts, MPR aims to contribute to making renewable energy a main power source, as set out in Japan’s 7th Strategic Energy Plan, and to realizing the society envisioned by 24/7 CFE.

*1 Off-site corporate PPA: A scheme in which electricity is supplied to a customer through the general transmission and distribution network from a renewable energy source, such as a solar power plant, located away from the customer’s site. PPA stands for Power Purchase Agreement.

*2 Non-fossil certificates with tracking information: Under Japan’s national system, non-fossil certificates certify the environmental value of electricity generated from non-fossil sources, which include renewable energy as well as other sources such as nuclear power. MPR’s renewable electricity plans use certificates derived from renewable sources, with tracking information such as the location and type of the generating facility attached.

■ About Marubeni Power Retail Corporation

■ Media Contact

Sales Div.2, Marubeni Power Retail Corporation   Contact person: Yuki HAYASHI

TEL: +81-3-3282-3666   E-mail: Hayashi-Y@marubeni.com