#Japan #Nomura Real Estate #NF Power #Shizuoka Wind Farm #Higashi-Izu

Introduction

In a significant step towards achieving its long-term environmental goals, Nomura Real Estate Co., Ltd., along with its affiliated companies, has entered a 20-year power procurement agreement with a wind farm currently under construction in Higashi-Izu, Shizuoka Prefecture. This agreement is expected to provide approximately 18 GWh of renewable energy annually, enough to power around 4,500 households, significantly contributing to the company’s commitment to reducing greenhouse gas emissions.

Details of the Wind Farm Project

The wind farm, spearheaded by Higashi Izu Wind Power LLC in collaboration with the local government, plans to replace aging wind turbines that have served as a symbol of the town with three new, advanced wind turbines. Scheduled to commence operations in 2026, this project marks a pivotal investment in renewable energy sources, positioning Nomura at the forefront of sustainable infrastructure development in Japan.

Operating within the framework of a Corporate Power Purchase Agreement (PPA), this initiative aligns with Nomura’s participation in international sustainability efforts, notably the RE100 initiative aiming for 100% renewable energy usage by 2050. Through this agreement, Nomura aims to fulfill its energy requirements for its various properties, including its major development, BLUE FRONT SHIBAURA, located in Minato, Tokyo.

Commitment to Sustainability

Nomura Real Estate's dedication to environmental responsibility goes beyond just this wind farm agreement. The company has outlined ambitious goals consistent with the Paris Agreement targets, aiming to exceed a 60% reduction in Scope 1 and 2 emissions and 50% in Scope 3 emissions by 2030 compared to their 2019 levels. Notably, they have already achieved a target of 100% renewable energy use in their domestic rental properties, demonstrating significant progress towards their sustainability goals.

To not only comply with but also to lead in sustainable practices, Nomura is actively transitioning to additional renewable energy sources that deliver new, rather than merely offsetting, energy contributions. This approach reduces reliance on non-fossil certificates and promotes the development of new energy generation methods.

Future Energy Solutions

With this wind power contract, Nomura will secure a consistent supply of renewable energy over the next two decades. This energy will not only support various facilities across Japan but also mark a significant step towards corporate sustainability. The energy will be supplied through NF Power Service Co., Ltd., Nomura’s own retail electricity provider, ensuring that the energy used in their properties is both sustainable and reliable.

The company also leads innovative initiatives such as installing solar panels at logistics facilities and on the rooftops of residential buildings, providing further avenues for energy generation. Their commitment includes developing a hybrid wooden high-rise condominium and promoting Net Zero Energy Houses (ZEH) within their residential projects, demonstrating a focus on low-carbon construction methods.

Conclusion

As Nomura Real Estate moves forward with its renewable energy strategies, it remains committed to fostering a sustainable built environment that aligns with global carbon neutrality goals. By harnessing innovative energy solutions and committing to substantial reductions in greenhouse gas emissions, Nomura is not only paving the way for a greener future but also encouraging others in the sector to follow suit. With projects like the Higashi-Izu wind farm, Nomura shows that strategic investments in sustainable energy sources can create a significant impact while also promoting long-term corporate responsibility.

References

For more information on Nomura Real Estate's sustainability initiatives and the details of their energy efficiency policies, please visit Nomura Real Estate Group Sustainability.