According to the company’s website news release on April 25, 2023, the geothermal power plant (Name: Katatsumuri Yama Power Plant, output: 14,990 kW, scheduled to start operation in March 2027) now under construction in Yuzawa City, Akita Prefecture by Oyasu Geothermal Co.,Ltd., a company established with investment by three companies: Idemitsu Kosan Co.,Ltd. (Head Office: Chiyoda-ku, Tokyo, Representative Director, President and Chief Executive Officer: Shunichi Kito), INPEX CORPORATION (Head Office: Minato-ku, Tokyo; President & CEO: Takayuki Ueda), and Mitsui Oil Exploration Co., Ltd. (Head Office: Chiyoda-ku, Tokyo, President & CEO: Hirotaka Hamamoto), became the first geothermal power plant to be designated as an “Important Power Development Site” on March 31, 2023.
The designation is in accordance with the "Regulations Concerning Designation of Important Power Development Sites" (Ministry of Economy, Trade and Industry Notification No. 31, February 18, 2005).
The Minister of Economy, Trade and Industry (METI) designates important power development sites for the purpose of facilitating the formation of local consensus and the granting of licenses and approvals by the relevant ministries and agencies.
Through Oyasu Geothermal Co.,Ltd., the three companies explored the possibility of applying this program as a measure to contribute to Yuzawa City, the municipality where the power plant is located, and worked with Yuzawa City to prepare for the fulfillment of the requirements for designation. Taking advantage of the designation as an important power development site, we will further promote regional symbiosis and other initiatives.
The three companies will continue to proactively promote the dissemination and expansion of the use of renewable energy to contribute to the realization of energy security and a low-carbon society in Japan, as well as solutions to local issues and regional revitalization.
The project has received a subsidy from the Japan Organization for Metals and Energy Security (JOGMEC) for the initial survey and debt guarantee support for the borrowing for the construction of the power plant.
