Project-Finance Agreement Signed for MC-Hokuden Hydro Power Alliance – QNT Press Release




TOKYO, May 23, 2022 – (JCN Newswire) – Hokkaido Electric Power Company (Hokuden) and Mitsubishi Corporation (MC) are pleased to announce that we will be establishing a new joint venture in November 2021 that will be dedicated to hydroelectric power generation. The company, Donan Hydroelectric LLC (Donan Hydro), will be headquartered in Hakodate City, Hokkaido Prefecture. In conjunction with the new joint venture’s establishment, Hokuden and MC have also agreed to form a hydroelectric power alliance that will service Hokkaido’s Donan region.Our alliance will begin by Hokuden replacing in stages five existing power plants in Southern Hokkaido Prefecture, with Donan Hydro managing their operations thereafter. The five plants that will be replaced are all located in the Donan region. They include four that are directly owned by Hokuden ( Nanae Power Station, Isoyagawa Daiichi Power Plant, Isoyagawa Daini Power Plant, and Ainumanai Hydro Plant), and one owned by Hokuden’s subsidiary Eco Ener gy Corporation, Ltd. (Ono Power Station). (Excerpt from joint press release of October 2021)

To help fund the alliance’s operations, Hokuden and MC have entered into a project-finance (PF)* agreement with North …

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