RENOVA (JP:9519) has released an update.
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RENOVA, Inc. has announced a delay in the commencement of its Omaezakikou Biomass Power Plant, now rescheduled to start operations in October 2024 instead of July, due to the need for additional adjustments. The delay is not expected to affect the project’s Feed-in Tariff (FIT) period, and financial repercussions on the fiscal year ending March 2025 are anticipated to be minimal. RENOVA maintains its right to take over joint equity investors’ interests post-construction in November 2024, consistent with previous forecasts.
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