Mitsubishi Logistics Co. has signed a virtual power purchase agreement (VPPA) with JERA Cross Inc. for the output equivalent of 8 megawatts of solar generation. The agreement involves the procurement of Non-Fossil Certificates (NFCs) linked to the production of these assets, whose commercial operation date has not been disclosed. The electricity will be aggregated and sold on the wholesale market by JERA Cross.
Mitsubishi Logistics will continue to procure electricity from its current retailer while using the NFCs to offset consumption at its facilities in the Kanto region. This agreement is part of a series of initiatives aimed at increasing the share of renewables in the group’s total power consumption, which amounts to approximately 140GWh per year.
An expanding energy strategy
In 2024, around 40GWh of this consumption came from renewable sources, up from 10GWh in 2022. Several of the group’s facilities are already equipped with rooftop solar panels. In September, Mitsubishi Logistics announced its first off-site physical power purchase agreement for 1MW with Kansai Electric Power Company Inc.
In its 2025 Integrated Report, the company outlined plans to invest JPY19bn ($125mn) by fiscal year 2030 in energy efficiency measures, self-owned solar installations and power purchase agreements. These investments are part of a roadmap to reduce dependence on conventional energy sources.
A key player in solar aggregation
JERA Cross, a wholly owned subsidiary of JERA Co. Inc., Japan’s largest power generator, plays a central role in enabling decarbonisation initiatives for industrial partners. The company previously partnered with Yamato Transport Co. Ltd. to support the development of an internal renewables business unit.
JERA Cross also collaborated with Ryohin Keikaku Co. Ltd., parent company of the MUJI retail brand, to aggregate the output of solar power plants developed through a joint venture owned 80% by MUJI and 20% by JERA. These activities are part of a business model aimed at optimising the distribution of green energy in Japan’s wholesale market.
