Kyuden signs offsite geothermal PPA with realty investment company in Japan
The 30-MW Yamakawa geothermal power plant in Kagoshima Prefecture, Japan (source: Kyuden Mirai)
Carlo Cariaga
16 Feb 2026
Kyuden Mirai will be supplying 900 MWh of geothermal power annually to the office buildings of JPR in Tokyo, Japan through an offsite corporate PPA.
An offsite corporate geothermal energy-based power purchase agreement (PPA) has been signed between Kyuden Mirai Energy, Nippon Steel Engineering, and Japan Prime Realty Investment Corporation (JPR).
Under the terms of the PPA, approximately 900 MWh of electricity will be supplied annually from the geothermal power plants owned by Kyuden Mirai to the office buildings owned by JPR in Tokyo, Japan. This will be done through Nippon Steel Engineering acting as the retail electricity provider.
The model is similar to another PPA signed by Tokyo Tatemono, again with Kyuden Mirai and Nippon Steel Engineering, back in 2025. Kyuden Mirai had also signed a corporate geothermal PPA with Panasonic to help decarbonize its manufacturing operations in Japan.
JPR recognizes that climate change has a significant impact on its business, including the activities of tenants and supply chains, and has declared a policy of actively contributing to the reduction of greenhouse gas emissions, among other endeavors. JPR has identified “action on climate change” as one of its material issues, and has set “reducing total greenhouse gas emissions by 46.2% compared with 2019 levels by 2030,” and “achieving net-zero emissions by 2050” as medium-to-long-term science-based targets.
Kyuden currently operates four geothermal power plants in Japan – the Hatchobaru Power Station (110 MW), Takigami Power Station (27.5 MW), Yamakawa Power Station (30 MW), and Ogiri Power Station (30 MW). Work is underway for another 5-MW geothermal power plant in Kirishima, while the EIA process has been initiated for another 9.5-MW development in Yutsubo.
Source: Kyuden Mirai and Nippon Steel Engineering
