Cosmo Oil Marketing and Nippon Closures Conclude Their First Solar Power-Based Off-Site Physical PPA ~Aiming for an Annual CO2 Emissions Reduction of Approx. 10,260 Tons at the Komaki Plant~
April 1, 2026
Cosmo Energy Holdings Co., Ltd.
Cosmo Oil Marketing Co., Ltd.
Nippon Closures Co., Ltd.
Cosmo Oil Marketing Co., Ltd. (hereafter, “Cosmo Oil Marketing”), a subsidiary of Cosmo Energy Holdings Co., Ltd., has entered into a solar power-based off-site physical Power Purchase Agreement (PPA)¹ with Nippon Closures Co., Ltd. (hereafter, “Nippon Closures”), a subsidiary of Toyo Seikan Group Holdings, Ltd. Based on the agreement, Cosmo Oil Marketing will begin supplying renewable energy-derived electricity to Nippon Closures’ Komaki Plant from April 1, 2026.
Nippon Closures' Komaki Plant
Under the agreement, Cosmo Energy Solutions Co., Ltd.², a Cosmo Energy Group company, will procure electricity from solar power generation facilities within the service area of Chubu Electric Power Co., Inc., and supply around 12% of the electricity consumed annually by Nippon Closures’ Komaki Plant as renewable energy-derived electricity with additionality³. Regarding the remaining approximately 88%, Nippon Closures is expected to achieve a total annual CO2 emissions reduction of approximately 10,260 tons⁴ by utilizing Cosmo Oil Marketing’s renewable energy-derived electricity plan, Cosmo Denki (Electricity) Business Green⁵.
The Cosmo Denki (Electricity) Business “Off-Site PPA Plan”⁶ differs from other off-site physical PPAs, which are typically long-term contracts, in that the contract duration can be flexibly set in accordance with facility renewal plans and business operations. This allows Cosmo Oil Marketing to offer an optimal contract structure that meets the needs of customers seeking to introduce renewable energy-derived electricity with minimal barriers to adoption.
Nippon Closures is working toward the realization of a decarbonized society, and under its “Eco Action Plan 2030,” which outlines its medium- to long-term environmental targets, aims to reduce greenhouse gas emissions from all Group business activities by 50% by FY2030 compared with FY2019 levels and achieve carbon neutrality by 2050. The introduction of renewable energy-derived electricity under this latest agreement represents a key step toward achieving these targets. The supply of electricity via a solar power-based off-site physical PPA is a first for both Nippon Closures and Cosmo Oil Marketing.
Going forward, the two companies will continue to reduce their environmental footprints and contribute to realizing a decarbonized society by expanding the use of renewable energy-derived electricity with a focus on additionality.
- An off-site physical PPA is a long-term contract under which a company purchases renewable energy generated at a site other than its own. A physical PPA is a scheme in which electricity and its associated environmental value are supplied as a package to the consumer via an electricity retailer.
- Cosmo Energy Solutions Co., Ltd. is a wholly-owned subsidiary of Cosmo Oil Marketing and an electricity retailer that supplies electric power. Cosmo Oil Marketing has entered into an intermediary agreement with Cosmo Energy Solutions Co., Ltd. regarding sales of electric power.
- Additionality refers to encouraging investment in new renewable energy facilities in order to create additional renewable energy generation capacity that benefits society as a whole.
- Based on actual annual electricity consumption in FY2024
- Cosmo Denki (Electricity) Business Green is a corporate electricity plan that helps businesses achieve net zero CO2 emissions by providing them with added environmental value in the form of non-fossil certificates and other designated renewable energy certificates. By applying them to the electricity supplied, all electricity used by consumers is deemed to be derived from renewable energy. Since the service was launched in 2020, it has mainly been utilized by companies and local governments aiming to decarbonize their operations.
URL: (available in Japanese only) - About the Cosmo Denki (Electricity) Business “Off-Site PPA Plan”
URL: (available in Japanese only)
(End)
(The official language for Cosmo Energy Group's filings with the Tokyo Stock Exchange and Japanese authorities, and for communications with our shareholders, is Japanese. We have posted English versions of some of this information on this website. While these English versions have been prepared in good faith, Cosmo Energy Group does not accept responsibility for the accuracy of the translations, and reference should be made to the original Japanese language materials.)