Sumitomo Forestry Co and Sumitomo Joint Electric Power Co will build a 50 megawatt biomass power plant on the northern island of Hokkaido. Source: Bloomberg News
The companies plan to invest 15 billion yen (US$153 million) on the plant and a factory to produce wood chips to be used as fuel, they said in a statement.
Construction will start in September and the plant, to be built in Monbetsu city, will start operations in December 2016, according to the statement.
Sumitomo Forestry is based in Tokyo. Sumitomo Joint Electric Power, which is based in Niihama, primarily generates and distributes electricity for Sumitomo group companies.
