Looop Signs Off-Site PPA Service Agreement with SUBARU and LOG

Looop, dedicated to its vision of realizing an 'Energy-Free Society,' has signed an off-site PPA service agreement with SUBARU and LOG. Under this agreement, a portion of the renewable energy generated by LOG's 'Bio Power Fukushima Power Plant' will be supplied to SUBARU's 'Automotive Division, Gunma Plant, Kitamoto Factory.' With this initiative, Looop enters the supply-demand aggregation business for off-site PPAs, further contributing to corporate decarbonization.

As climate change countermeasures become a pressing issue for businesses, off-site PPAs are rapidly gaining traction. Beyond purchasing non-fossil certificates, companies are valuing the 'additionality' of creating new renewable energy generation capacity.

Looop decided on this agreement by leveraging its expertise in controlling various renewable power sources, gained through its integrated renewable energy and retail electricity business. This is the first time Looop has undertaken supply-demand aggregation in an off-site PPA model.

The project is expected to supply approximately 804,000 kWh of energy annually, with a projected reduction of approximately 360 tons of CO2 emissions per year.