Approximately 5% of Electricity Used at the Shizuoka Plant to Be Procured from Renewable Energy

NOK Corporation (Head Office: Shibadaimon, Minato-ku, Tokyo; Representative Director, Group Chief Executive Officer: Masao Tsuru; hereinafter referred to as “NOK”) has entered into an off-site physical PPA service agreement*1 with Chubu Electric Power Miraiz Co., Inc. (Head Office: Higashi-Shinmachi, Higashi-ku, Nagoya, Aichi Prefecture; Representative Director, President and Executive Officer: Yasunori Kamiya) to procure renewable energy under a long-term contract.

Under this initiative, from Thursday, March 26, 2026, electricity generated at an agrivoltaic solar power facility in Kakegawa City, Shizuoka Prefecture, will be supplied to NOK’s Shizuoka Plant in Makinohara City, Shizuoka Prefecture. This marks the first introduction of an off-site PPA within the NOK Group, and NOK plans to procure renewable energy equivalent to approximately 5% of the Shizuoka Plant’s annual electricity consumption.

In addition, the initiative adopts an agrivoltaic approach, under which local producers cultivate lemons beneath the solar panels, with the aim of achieving both reduced environmental impact and harmony with the local community.

Background and Purpose of the Agrivoltaic Power Facility

Based on its long-term environmental vision, NOK Group Twin Green Plan 2030, the NOK Group is working toward achieving carbon neutrality by 2050. In addition to measures already implemented, such as installing solar power systems on factory rooftops, this initiative marks the start of a new source of renewable energy procurement. Through this effort, NOK aims to ensure a stable energy supply and further accelerate decarbonization across the Group.

As a company committed to growing together with local communities, NOK selected an agrivoltaic model to contribute more broadly to the regional economy. At the contracted power facility in Kakegawa City, which covers approximately 8,538 m² (approximately 91,903 ft²), power generation and agriculture coexist on the same land. NOK hopes this initiative will help attract new farmers, support the development of a sustainable and profitable agricultural model, and contribute to sustaining the future of local agriculture.

Power Generation and CO₂ Emissions Reduction (Estimate)

- Power generation: Approximately 930,000 kWh per year, equivalent to approximately 5% of the Shizuoka Plant’s annual electricity consumption
- CO₂ emissions reduction: Approximately 380 tons*2 per year

1  Off-site physical PPA (Power Purchase Agreement) service:
A scheme in which an energy service provider supplies both electricity derived from renewable energy and its associated environmental value to a customer, using dedicated solar power generation facilities installed outside the customer’s premises. The agrivoltaic off-site PPA adopted in this initiative uses agrivoltaic solar power generation, also known as solar sharing, to balance renewable energy procurement with local agriculture.

2 Calculated based on Chubu Electric Power Miraiz’s FY2024 CO₂ emissions results (adjusted emission factor).