Jan. 24 (Bloomberg) -- Idemitsu Kosan Co., a Japanese refiner, set up a venture with partners for wood biomass power generation.
Idemitsu will take a 50 percent stake in the venture and Tosa Electric Railway Co. and Kochi Prefecture Federation of Forest Owners’ Cooperative Associations will hold a 25 percent stake each, they said in a statement yesterday.
The venture plans to “advance studies of entry to the wood biomass power-generation business” to build a 5-megawatt station in Kochi prefecture in southwestern Japan, according to the statement.
The group wants to start operations of the plant in April 2015 and plans to use fuel consisting of 100 percent unused wood materials, the three parties said, without detailing how much the plant will cost.
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