Renova reschedules Omaezakikou biomass plant launch

Japan’s Renova Inc. has rescheduled the launch of its Omaezakikou biomass plant.
It was scheduled to become operational in October this year, but has now been postponed to March next year.
This is due to additional time necessary for final adjustments to the boiler and turbine facilities, in order to ensure stable operation.
The plant is owned by Omaezakikou Biomass Energy G.K., an equity method affiliate of Renova.
In a statement, Renova said it has rescheduled the feed-in-tariff (FIT) period of the 75-megawatt project.
The company has received liquidated damages from the EPC for a certain period of time.
This is because of the changed date of commercial operation, as stipulated in the contract.
As a result, Renova expects the revenue of Omaezakikou G.K. for the current fiscal year ending 31 March 2025 to decrease by approximately $34.95m (€31.6 million).
However, the impact on operating income and profits below operating income are expected to be limited, according to the company.