Yasuda Real Estate Introduces First Off-site PPA with its Own Power Source

Yasuda Real Estate Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Mamoru Yasuda; hereinafter "Yasuda Real Estate"), Riene Energy Co., Ltd. (Headquarters: Minato-ku, Tokyo; President: Takashi Ikeuchi; hereinafter "Riene Energy"), and Riene Inc. (Headquarters: Shibuya-ku, Tokyo; President: Keisuke Nishida; hereinafter "Riene") announce that as part of their efforts to reduce CO₂ emissions, Yasuda Real Estate has acquired a power plant developed by Riene Energy as its own power station and has begun supplying renewable energy power (hereinafter, "RE power") to eight rental properties owned and operated by Yasuda Real Estate through an off-site corporate PPA (hereinafter, "this PPA"). This will contribute to the decarbonization of Yasuda Real Estate's properties and the realization of "local production for local consumption" of RE power within the Kanto region.

1. Background

＜Yasuda Real Estate＞

Yasuda Real Estate established its environmental policy in 2021 and has been progressively introducing RE power to its major owned and operated buildings, including existing and newly developed ones.

Meanwhile, with the advancement of decarbonization, prices are expected to rise and procurement competition is expected to intensify due to increased demand for RE power and environmental value. Against this backdrop, Yasuda Real Estate has been considering renewable energy procurement from its own power sources as a means to secure RE power long-term and stably.

In this initiative, we will contribute to the realization of carbon neutrality by introducing an off-site PPA utilizing a power plant owned by the company, in collaboration with the resources and know-how in the renewable energy field of the Tokyu Fudosan Holdings (hereinafter, "Tokyu Fudosan HD") group.

＜Tokyu Fudosan HD＞

Tokyu Fudosan HD has set "environmental management" as one of its overall goals in its long-term vision "GROUP VISION 2030." Its core company, Tokyu Land Corporation, was the first domestic operating company*2 to be certified for achieving RE100 in 2024 by switching the electricity of its domestic facilities*1 to 100% renewable energy.

Furthermore, to contribute to the government's goal of achieving carbon neutrality by 2050, the Tokyu Fudosan HD group companies are collaborating to support corporate decarbonization. In this initiative, Riene and Riene Energy will work together across the board, leveraging their broad business wing and customer contact points in the conventional real estate business, and will continue to work towards building a unique growth model as a GX operator and a comprehensive real estate company.

*1. Excludes projects scheduled for sale or demolition that are not within the scope of RE100, and some joint business projects where Tokyu Land Corporation does not have energy management authority.

*2. Excluding financial institutions.

2. Overview of this PPA

This PPA supplies electricity derived from renewable energy generated at a solar power plant owned by Yasuda Green Energy LLC, a wholly-owned SPC of Yasuda Real Estate, located in the Kanto area, to the demand sites through Riene, a retail electricity provider. Yasuda Real Estate will achieve 100% renewable energy at the demand sites by combining the RE power from its own power source through this PPA with substantially renewable energy procured from FIT power plants via Riene. In this scheme, Riene Energy will be responsible for the development and transfer of the power plant tailored to the demand, as well as its management and operation. The power supply under this PPA will commence on April 1, 2026, and will contribute to an annual CO₂ reduction of approximately 10,345 t-CO₂*3.

Through this PPA, Yasuda Real Estate and the Tokyu Fudosan HD group will realize "local production for local consumption" by supplying RE power from the Kanto area to demand sites in Tokyo. This will promote decarbonization at the demand sites, stimulate economic circulation within the region, and contribute to sustainable, locally-rooted economic revitalization.

*3. Calculated using the base emission factor of the contracted retail electricity provider.

【List of Supply Locations】

・WTerrace

・Takebashi Square

・Ochanomizu Yasuda Building

・Aoyama Yasuda Building

・Mark-Light Toranomon

・Ginza Matsuya