SMFL MIRAI Partners, Yanmar Holdings, and Yanmar Energy System Partner to Deliver Japan’s Largest Virtual PPA with 150 MW Renewable Energy Supply

Osaka, Japan (January 30, 2025) — SMFL MIRAI Partners Company, Limited., a strategic subsidiary of Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL), Yanmar Holdings Co., Ltd., and Yanmar Energy System Co., Ltd. have signed a basic agreement to supply 150 MW of renewable energy—the largest capacity under a Virtual Power Purchase Agreement (PPA)¹ in Japan.
As part of the initiative, SMFL MIRAI Partners and Yanmar Energy System established a joint venture company (referred to as the power generation SPC) to supply renewable energy to Yanmar Holdings. In its first phase, the SPC has acquired nine high-voltage solar power plants with a total capacity of 10.9 MW. The additional environmental value² created by these facilities will be supplied to Yanmar Holdings starting in December 2024 through an aggregator³.
SMFL MIRAI Partners was able to quickly provide this environmental value to Yanmar Holdings due to its proactive development of solar power plants, even before securing buyers. The three companies aim to develop 150 MW of renewable energy sources across Japan by fiscal 2030. This initiative aligns with Yanmar Holdings’ YANMAR GREEN CHALLENGE 2050 and contributes to achieving a zero-carbon society.

SMFL Group’s Initiatives

The SMFL Group is engaged in renewable energy generation businesses, including solar, wind, biomass, and hydropower, as well as onsite and offsite power generation projects to provide CO₂-free electricity. It also offers energy-saving support services and financial solutions, such as leasing for renewable energy and energy-saving equipment. By providing one-stop solutions that support companies’ decarbonization efforts, SMFL Group is contributing to the realization of a carbon-neutral society.

Yanmar Group’s Initiatives

The Yanmar Group is committed to building a sustainable society through its YANMAR GREEN CHALLENGE 2050. This initiative addresses three key goals: achieving zero GHG emissions in corporate activities, operating resource-recycling corporate activities with no environmental impact, and supporting customers in reducing GHG emissions and promoting resource recycling. Through these efforts, the Yanmar Group aims to realize its brand statement, A SUSTAINABLE FUTURE – Towards New Prosperity Through Technology.
Yanmar Energy System, a group company of Yanmar, develops, manufactures, sells, and services emergency generators, cogeneration systems, and gas engine-based air conditioning systems, while also providing remote monitoring services. The company has contributed to stable power infrastructure and energy-efficient societies. Recently, it has expanded its operations in renewable energy generation under the YANMAR ENERGY FARM initiative. By continuing these efforts, the Yanmar Group aims to promote decarbonization in energy and deliver optimal energy solutions to its customers.

• *1Virtual Power Purchase Agreement: A contract that supplies only the environmental value, over a long period, derived from renewable energy power plants.
• *2Additional environmental value: Introducing new renewable energy sources, rather than relying on conventional renewable energy sources (FIT).
• *3In this project, Toshiba Energy Systems & Solutions Corporation has been appointed as the aggregator.

Outline of scheme

About Yanmar

With beginnings in Osaka, Japan, in 1912, Yanmar was the first ever to succeed in making a compact diesel engine of a practical size in 1933. A pioneer in diesel engine technology, Yanmar is a global innovator in a wide range of industrial equipment, from small and large engines, agricultural machinery and facilities, construction equipment, energy systems, marine, to machine tools, and components — Yanmar’s global business operations span seven domains. On land, at sea, and in the city, Yanmar provides advanced solutions to the challenges customers face, towards realizing A Sustainable Future. For more details, please visit the official website of Yanmar Holdings Co., Ltd.

https://www.yanmar.com/global/about/