On the 12th, NEC Capital Solutions <8793> announced that its subsidiary NCS RE Capital has signed a power supply contract with Shirokuma Electrical Utilities to install a solar carport through a corporate PPA at the Chiba New Town store operated by JOYY Inc. American Depositary Shares <3191>.

This initiative will be one of the largest for Home Improvement Stores in Japan.

NCS RE Capital was established as a strategic subsidiary of NEC Capital Solutions, inheriting renewable Energy-related businesses.

NCS RE Capital is promoting corporate PPA projects centered on Shirokuma Electrical Utilities' carport equipment "Shirokuma Carport" through the joint venture NaF established in collaboration with Shirokuma Electrical Utilities.

The estimated self-consumption power generation volume for this initiative is approximately 1.17 million Wh per year, with an expected reduction of approximately 456 tons of CO2 emissions annually.

JOYY Inc. American Depositary Shares has set a goal of reducing CO2 emissions by 43% by 2025 (compared to fiscal 2013) and is advancing efforts towards Carbon Neutrality. It has been promoting the installation of rooftop Photovoltaic Technology systems at all stores to build next-generation stores aiming for Carbon Minus.

This initiative is expected to raise the self-sufficiency rate of power supply to 20% in conjunction with existing power generation facilities. Moreover, it is anticipated to provide a stable outlook for Energy supply that is not influenced by external factors such as energy conditions and contribute to cost reduction.

The power generation equipment for this initiative will be owned by NaF, while Shirokuma Electrical Utilities will be responsible for design, construction, operational management, and power supply to JOYY Inc. American Depositary Shares. Construction is scheduled to start in January 2025, with power supply expected to commence in July of the same year.