I would like to express my heartfelt gratitude for your continued outstanding support.

Against the backdrop of the recent expansion of data centers and semiconductor factories accompanying the spread of AI, future electricity demand is expected to increase. In addition, amid rising geopolitical risks such as in the Strait of Hormuz, the introduction of CO2-free technologies that contribute to energy independence has become a crucial issue, further increasing the importance of improving the domestic energy self-sufficiency rate and of renewable energy. Under the Seventh Strategic Energy Plan approved by the Cabinet in February 2025, renewable energy continues to play a major role, positioned as the main power source in FY2040 with a target of 40-50% of the energy mix.
Under these circumstances, we announced our Medium-term Management Plan 2030 in May 2025, and we are steadily promoting our business to achieve its targets.
In September 2025, the Karatsu Biomass Power Plant started commercial operation, and all seven of our biomass power plants (totaling 445MW) transitioned to the operation phase. Going forward, through the stable operation and appropriate maintenance of all our power plants, we will maximize their functions as a stable and highly profitable baseload power source unaffected by weather, thereby contributing to the strengthening of our long-term revenue base and the stable supply of renewable energy.
In October of the same year, the Himeji Energy Storage Facility started commercial operation as the RENOVA Group's first grid storage battery business. Furthermore, in March 2026, construction started on the Kikugawa Nishimura Energy Storage Facility, the largest-scale merchant storage battery project in Japan. We plan to continue starting construction on and completing multiple large-scale storage battery projects going forward, contributing even further to stabilizing power grids and increasing renewable energy power.
In addition, with the inclusion of small-scale, distributed solar power generation projects and the Reihoku-Amakusa Onshore Wind project currently under construction, our portfolio of projects in operation and under construction totals approximately 1.6GW. In FY2026, we plan to start construction on multiple overseas projects.
As we celebrate our 25th anniversary, we will continue working to achieve sustainable growth and increase our corporate value, under our founding philosophy of solving environmental issues through business. We hope for your continued support in the future.

(June 2026)

Yosuke Kiminami
Representative Director
President & CEO, Founder
RENOVA, Inc.