Japan’s power generation company, JERA and RyohinKeikaku have agreed to establish MUJI ENERGY LLC for solar projects. MUJI ENERGY is planned as a joint venture focused on renewable power generation. RyohinKeikaku holds 80% ownership and JERA holds 20%. The new company targets to develop 13 MW of solar capacity within one year. This covers 20% of RyohinKeikaku’s annual electricity consumption. CO2 emissions are expected to reduce by around 8,000 tons per year. JERA Cross, a JERA subsidiary, has signed a virtual power purchase agreement with RyohinKeikaku. The agreement enables RyohinKeikaku to procure environmental value from solar generation. RyohinKeikaku also plans to reduce total CO2 emissions by 50% by 2030. JERA continues its efforts for zero CO2 emissions by 2050.