Renova

Basic Information

Stock Code
9519
Industry
Electric Power & Gas
Category Detail
Industrial Equipment & Heavy Electrical Apparatus
Prefecture
Tokyo
Establishment Year
May 2000
Listing Year
February 2017
Official Website
https://www.renovainc.com/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Green Energy & Company, Synchro, Meidensha, W-SCOPE, Erex

Overview

Renova is a leading company in the electric power and gas industry, founded in 2000, that develops and operates renewable energy power plants and deploys diverse green energy businesses both domestically and internationally.

Current Situation

Renova recorded consolidated sales of approximately 70.2 billion yen and operating profit of approximately 4 billion yen for the fiscal year ending March 2025, steadily achieving business growth. Specializing in the development and operation of renewable energy power plants, it possesses a generation capacity of 1.6 GW at 28 locations nationwide, centered on solar, biomass, wind, and geothermal power generation. In 2024, it concluded a capital and business alliance with Tokyo Gas and is focusing on developing storage battery businesses to promote green transformation. In overseas expansion, it is advancing business growth in Southeast Asia and the United States, strengthening new business development in decarbonization fields by establishing the GX Headquarters. It has also formulated a medium- to long-term management plan 2030 aiming for the realization of a sustainable society, with technological innovation and environmental consideration as the pillars of management. It flexibly responds to changes in the external environment such as heightened risk awareness and fluctuations in electricity prices, deepening collaboration with power companies and corporations.

Trivia

Interesting Facts

  • Company name is a coined term from 'renewal (New)' and 'new star (Nova)', expressing enthusiasm for environmental innovation.
  • Possesses one of the largest renewable energy generation capacities in Japan and operates diverse energy sources.
  • Attracted attention in the industry by forming major capital alliance with Tokyo Gas in 2024.
  • Investing in Pathway Power Holdings LLC in California, U.S., to expand overseas business.
  • Rare specialist company focusing solely on renewable energy.
  • Previously engaged in plastic recycling business.
  • Newly established GX Headquarters to promote decarbonization and expand business fields.
  • Concluded virtual PPAs with multiple major companies to explore new power procurement models.
  • Disperses power plants across multiple regions through numerous affiliates.
  • Featured on TV Tokyo's 'Gaia no Yoake' for transition from waste-to-power business.
  • As of 2024, has approximately 335 specialized employees.
  • Operates three large-scale solar power plants in Karumai Town, Iwate Prefecture.
  • Multiple bases in Asia including Vietnam, Singapore, and Korea.
  • Actively investing in diverse renewable energies such as biomass and geothermal.
  • Major shareholders include founder group, major energy and forestry companies.

Hidden Connections

  • In addition to capital and business alliance with Tokyo Gas, has multifaceted cooperation including power sales contracts.
  • Establishes multiple anonymous partnerships to efficiently operate locally rooted power generation businesses.
  • Jointly develops storage battery business with Idemitsu Kosan, Nagase & Co., and SMFL Mirai Partners.
  • Strengthens ties with Southeast Asian local communities through Quan Tri Province wind project in Vietnam.
  • Kokonoe Town Mega Solar in Oita Prefecture is known as a symbol of regional revitalization.
  • Strategic position supporting power consumers' decarbonization strategies via virtual PPAs.
  • President Yosuke Kinami is the founder and central figure in management.
  • Historical turning point of concentrating on renewable energy after selling subsidiaries like Eco Factory.

Future Outlook

Growth Drivers

  • Tailwinds from policy support and regulatory strengthening for decarbonized society
  • Improvements in power generation efficiency and storage performance through technological innovation
  • Global expansion of renewable energy demand
  • Deepening of collaborations and capital alliances with major domestic and international companies
  • New business creation by GX Promotion Headquarters
  • Expansion of wind and solar businesses in overseas emerging markets
  • Popularization of grid-scale storage batteries and virtual PPAs
  • Stabilization of revenue base through customer diversification
  • Market value enhancement from rising environmental awareness
  • Utilization of regulatory subsidies and private investments

Strategic Goals

  • Achieve 3 GW renewable energy generation capacity
  • Become a top runner in decarbonization management
  • Expand overseas business sales ratio to over 30% of total
  • Achieve over 10 billion yen annual sales from new GX businesses
  • Deploy grid-interconnected storage battery facilities nationwide
  • Accelerate and stabilize revenue from non-FIT businesses
  • Maintain and improve top-class ESG ratings
  • Establish coexistence model with local communities
  • Implement continuous investment in advanced technologies
  • Enhance green talent development programs

Business Segments

Development & Operation of Renewable Energy Power Plants

Overview
Provides integrated services from planning and construction to operation and maintenance of renewable energy power plants.
Competitiveness
Domestic largest-scale generation capacity combined with diverse renewable energy technologies
Customers
  • Power companies
  • Local governments
  • Environmental investment funds
  • Major trading companies
  • Industrial users
  • Energy-related ventures
  • Financial institutions
  • Environmental departments of major corporations
  • Design consultants
  • Construction companies
Products
  • Solar power plant design & construction
  • Biomass power plant operation
  • Wind power facility management
  • Geothermal power plant technical support
  • Storage battery system construction
  • Energy management services
  • Operation & maintenance services
  • Power sales
  • Environmental consulting
  • Asset management

Green Transformation Business

Overview
Deploys a variety of green business services to promote decarbonization.
Competitiveness
Industry-leading GX promotion structure and technical expertise
Customers
  • Power retailers
  • Manufacturing industry
  • Trading companies
  • Local governments
  • Infrastructure operators
  • Energy service companies
  • IT companies
  • Storage battery manufacturers
  • Wind turbine manufacturers
  • Procurement departments
Products
  • Small-scale distributed solar power
  • Grid-scale storage battery installation support
  • Virtual PPA contracts
  • Energy supply-demand optimization tools
  • Green power certificate services
  • Energy-saving consulting
  • Equipment construction contracting
  • Renewable energy asset management software
  • Environmental reporting support
  • GX promotion support

Overseas Renewable Energy Business

Overview
Promotes renewable energy businesses overseas, mainly in Southeast Asia and the U.S.
Competitiveness
Multinational network and local adaptability
Customers
  • Overseas power companies
  • Local governments
  • International financial institutions
  • Multinational corporations
  • Infrastructure investment funds
  • Local developers
  • Vietnamese companies
  • Singapore entities
  • Korean companies
  • U.S. investors
Products
  • Local wind power project development
  • Solar power plant construction support
  • Biomass business operation
  • Asset management & operation
  • Environmental regulation compliance support
  • Investor reporting services
  • Capital alliance & transfer support
  • Energy management
  • Local community support
  • Risk management

Asset Management & Asset Management

Overview
Specialized services supporting efficient management and revenue maximization of power plant assets.
Competitiveness
Advanced management expertise specialized in renewable energy
Customers
  • Investment funds
  • Individual & corporate investors
  • Financial institutions
  • Renewable energy operators
  • Asset management companies
  • Trust banks
  • Real estate management companies
  • Insurance companies
  • Securities firms
  • Corporate pension funds
Products
  • Renewable energy asset management
  • Asset valuation
  • Revenue management
  • Risk analysis
  • Technical audits
  • Environmental reporting assistance
  • Asset operation strategy development
  • Tracking services
  • Regulatory compliance support
  • Tax support

Energy-Related Technical Services

Overview
Provides technical development and consulting services related to renewable energy.
Competitiveness
Abundant technical knowledge and track record
Customers
  • Equipment manufacturers
  • Construction companies
  • Research institutions
  • Local governments
  • Energy consultants
  • Government agencies
  • Environmental survey companies
  • Universities
  • Transportation industry
  • General trading companies
Products
  • Technical development support
  • Equipment design consulting
  • Operation efficiency services
  • Environmental impact assessment
  • Regulatory compliance programs
  • Technical training
  • Pilot project design
  • Data analysis
  • IT support
  • Benchmark analysis

Power Sales & Trading

Overview
Deploys sales of renewable energy power and market-related services.
Competitiveness
Stable power supply network and diverse customer base
Customers
  • Power retailers
  • Major manufacturers
  • Local governments
  • Trading companies
  • Environmental investors
  • Financial institutions
  • Large facility managers
  • Data center operators
  • Logistics industry
  • Construction industry
Products
  • Non-fossil certificate power sales
  • PPA (power supply contracts)
  • Power market trading
  • Supply-demand adjustment services
  • Renewable energy certificate issuance
  • Customized plans for consumers
  • Contract consulting
  • Power market analysis
  • Risk management support
  • Direct marketing

Equipment Construction Contracting & Maintenance

Overview
Comprehensive provision of construction, maintenance, and servicing for renewable energy equipment.
Competitiveness
Extensive equipment operation knowledge and high construction capabilities
Customers
  • Power plant operators
  • Equipment contractors
  • Electrical contractors
  • Power companies
  • Local governments
  • Management associations
  • General contractors
  • Energy operators
  • Factory management departments
  • Logistics centers
Products
  • Transmission & distribution equipment construction
  • Renewable energy equipment maintenance
  • Electrical equipment design & construction
  • Periodic inspection services
  • Emergency repair response
  • Equipment upgrades
  • Safety management programs
  • Construction planning
  • Environmentally compliant construction
  • Energy-saving renovation work

Environmental Consulting & Certification Support

Overview
Services supporting environmental compliance and sustainability improvement for companies and local governments.
Competitiveness
Strong expertise and track record in renewable energy field
Customers
  • Renewable energy operators
  • Major corporations
  • Local governments
  • Financial institutions
  • NGOs
  • Factory operators
  • Architectural design firms
  • Real estate companies
  • Importers
  • Food manufacturers
Products
  • Environmental impact assessment
  • SBT certification support
  • ESG report creation
  • Carbon offset planning
  • Energy-saving audits
  • Renewable energy introduction plan support
  • Environmental education training
  • Sustainability assessment
  • Certification acquisition consulting
  • Greenhouse gas measurement

Procurement & Sales of Power Generation-Related Equipment

Overview
Procures and sells various components for renewable energy power generation equipment.
Competitiveness
Diverse equipment network and procurement strength
Customers
  • Power generators
  • General contractors
  • Energy equipment manufacturers
  • Maintenance providers
  • Power companies
  • Construction leasing companies
  • Trading companies
  • Factory equipment departments
  • Research institutions
  • Local government public facilities
Products
  • Solar panels
  • Wind turbine parts
  • Biomass fuel equipment
  • Storage battery modules
  • Electrical control equipment
  • Transformers
  • Connection equipment
  • Monitoring devices
  • Safety devices
  • Maintenance parts

Education & Training Services

Overview
Provides specialized education and training services focused on the renewable energy field.
Competitiveness
Practical education by instructors with extensive field knowledge
Customers
  • Corporate environmental departments
  • Energy-related companies
  • Universities
  • Local governments
  • Research institutions
  • Engineer associations
  • Government agencies
  • Chambers of commerce
  • Environmental NPOs
  • Power companies
Products
  • Renewable energy technology training
  • GX promotion seminars
  • Safety management education
  • Equipment operation management courses
  • Environmental awareness training
  • Engineer skill enhancement
  • Sustainability education
  • Regulatory compliance courses
  • Risk management lectures
  • Custom training programs

Capital & Business Alliances and Investment Business

Overview
Engages in capital strategies and investment support related to renewable energy.
Competitiveness
Extensive investment track record and industry network
Customers
  • Investment funds
  • Venture companies
  • Financial institutions
  • Renewable energy-related companies
  • Local governments
  • Trading companies
  • Public organizations
  • Overseas partners
  • Real estate operators
  • ESG investors
Products
  • Business capital investment
  • Joint venture establishment support
  • Capital alliance management
  • Business reorganization consulting
  • M&A advisory
  • Startup support
  • Green funds
  • Overseas expansion support
  • Risk management
  • Market research

Environmental PR & Awareness Activities

Overview
Deploys environmental awareness activities in collaboration with local communities to support corporate social responsibility.
Competitiveness
Extensive local network and PR expertise
Customers
  • Local governments
  • Corporate CSR departments
  • Educational institutions
  • NPOs
  • Media
  • Local groups
  • Citizen groups
  • Environmental event organizers
  • Advertising agencies
  • Government agencies
Products
  • Environmental event planning & operation
  • PR material creation
  • Environmental education programs
  • CSR reporting support
  • Media campaigns
  • Web content production
  • Community exchange events
  • Local environmental surveys
  • Environmental news distribution
  • Awareness video production

Competitive Advantage

Strengths

  • Specialization focused on renewable energy
  • Operation of power generation facilities across diverse energy sources
  • Strong capital alliance with Tokyo Gas
  • 1.6 GW generation capacity across 28 locations nationwide
  • Aggressive expansion into overseas markets
  • GX Headquarters establishment for decarbonization promotion
  • Extensive public-private collaboration network
  • Integrated management capabilities for diverse power generation technologies
  • Established asset management system
  • Management policy emphasizing sustainability
  • High responsiveness to environmental regulations
  • Strong fundraising capabilities and investment track record
  • Advanced technology development and innovation
  • Stable power supply and adjustment capabilities
  • Solid foundation for steady performance growth

Competitive Advantages

  • Possesses one of the largest renewable energy generation capacities in Japan
  • Achieves risk diversification and flexibility through integrated operation of multiple energy sources
  • Superiority in funding, technology, and sales channels through alliance with Tokyo Gas
  • Accelerates new green business development through GX business reinforcement
  • Bases in 5 overseas countries enable locally rooted business deployment
  • Balances high power generation efficiency and reduced environmental impact with advanced technology
  • Stable supply through diverse storage battery systems and grid interconnection
  • Flexible B2B solutions tailored to diverse customer segments
  • Gains investor trust through robust asset management system
  • Proactive response to environment, society, and governance (ESG)

Threats

  • Revenue pressure risk from electricity market price fluctuations
  • Potential strengthening of regulations on renewable energy equipment
  • Rapid intensification of competition in storage battery technology
  • Risk of damage to power generation equipment from large-scale natural disasters
  • Local political risks and regulatory changes in overseas operations
  • Rising resource prices leading to increased construction costs
  • Increasing entry of competitors into renewable energy business
  • Decline in competitiveness due to delays in adopting technological innovations
  • Demand fluctuations from reduced decarbonization investments by customers
  • Decline in social credibility due to environmental regulation violations

Innovations

2024: Strengthening green transformation through new GX Headquarters

Overview
Centralizes decarbonization business management to accelerate new green business development.
Impact
Achieves diversified business expansion and revenue model diversification

2024: Conclusion of capital and business alliance with Tokyo Gas

Overview
Advances non-FIT solar power PPA business leveraging funding and technology.
Impact
Secures new revenue sources and strengthens business expansion foundation

2023: Launch of grid-scale storage battery business

Overview
Aims for power stabilization with large-scale batteries in collaboration with Idemitsu Kosan, Nagase & Co., etc.
Impact
Contributes to improved power supply-demand adjustment and regional power stability

2023: First introduction of virtual PPA contracts

Overview
Concluded power purchase agreement with Murata Manufacturing to expand renewable energy power.
Impact
Supports corporate decarbonization and establishes new power sales model

2022: Conclusion of power sales contract for non-FIT solar power plant

Overview
Concluded PPA with Tokyo Gas to expand business independent of fixed-price system.
Impact
Improves business stability and profit margins

2021: Commercial operation start of Quan Tri onshore wind power project

Overview
Newly undertakes wind power in Vietnam to expand overseas.
Impact
Diversifies overseas business and expands revenue base

2020: Decision to participate in Vietnam onshore wind power

Overview
Makes full-scale entry into Southeast Asian market.
Impact
Advances overseas growth strategy and acquires new markets

Sustainability

  • Promotion of renewable energy business aiming for a decarbonized society
  • Operation of power plants with reduced environmental impact domestically and internationally
  • Business diversification through utilization of non-FIT sources
  • Promotion of power stabilization through grid-scale storage battery introduction
  • Emphasis on environmental certification acquisition and coexistence with local communities
  • Proactive compliance with ESG investment standards and enhanced disclosure
  • Establishment of green transformation (GX) promotion structure
  • Technological innovation for sustainable resource utilization
  • Promotion of environmental education and community contributions
  • Strengthened internal controls for climate change risk response