Mitsui & Co. Signs NIKE Japan solar VPPA for Renewable Energy
In a significant move towards corporate sustainability, global trading and investment company Mitsui & Co. has announced a partnership with NIKE Japan, signing a virtual power purchase agreement (VPPA) to supply 100% renewable electricity for all of NIKE’s operations across Japan. This long-term agreement will cover the energy needs of NIKE Japan’s stores, offices, and distribution centers.
The deal underscores a growing trend of corporate renewable energy procurement in Japan and highlights NIKE’s commitment to its global decarbonization targets.
Details of the NIKE Japan solar VPPA Agreement
The VPPA totals 18 megawatts (MW) of solar capacity. This power will be sourced from 16 different solar plants located within the TEPCO grid region. The agreement is structured to include energy from both new and existing facilities, with 3 MW coming from new solar projects and the remaining 15 MW from recently commissioned plants.
Through this arrangement, NIKE Japan will receive Non-FIT (Feed-in Tariff) Non-Fossil Certificates. These certificates allow the company to officially match its total electricity consumption with renewable energy attributes, effectively greening its operational footprint in the country. The agreement was executed through Mitsui & Co. Project Solutions.
A Commitment to a Greener Future with NIKE Japan solar VPPA
This collaboration is a clear reflection of both companies’ dedication to environmental responsibility. For NIKE, it’s a crucial step in achieving its ambitious sustainability goals.
“Partnering with Mitsui to cover our facilities with 100% renewable electricity reflects NIKE’s commitment to advancing responsive, resilient, responsible, and efficient operations,” said Tetsuji Kobayashi, Vice President of NIKE Japan.
Mitsui & Co. also emphasized the importance of the partnership. Daiki Sato of Mitsui commented, “We are honored to support Nike in its full transition to renewable energy for its operations in Japan.”
The increasing use of VPPAs in Japan signals a shift in how corporations are approaching renewable energy sourcing. These agreements provide a viable pathway for companies to secure clean energy and contribute to the country’s broader transition away from fossil fuels, even without direct physical power delivery. This latest partnership between Mitsui and NIKE Japan serves as a powerful example for other businesses looking to make a tangible impact on their environmental goals.
