Renova boosts financials, advances renewable energy projects with new operations

Renova, a leading renewable energy developer, announced strong financial results for the second quarter of the fiscal year ending March 2026, with revenue reaching JPY 40,609 million and EBITDA at JPY 15,540 million, driven by biomass plant operations and business development fees. The company's net present value of owned businesses stands at approximately JPY 160 billion, significantly exceeding its market capitalization of JPY 86 billion as of September 2025.

In operational highlights, Karatsu Biomass (49.9MW) commenced operations in September 2025, bringing all seven biomass plants (445MW total) into operation. Additionally, the Himeji Energy Storage Facility (15MW/48MWh) began market participation operations in October 2025, marking Renova's entry into the merchant storage battery business. An important development in November 2025 saw a 100MW solar PV project in the Philippines secure 20-year fixed-price electricity selling rights.

Renova continues to advance its medium-term management plan, targeting 5.0GW of installed capacity and JPY 60 billion of EBITDA by FY2030, with strategic investments in solar PV, BESS, onshore wind, and biomass. The company's focus on cost-competitive, large-scale BESS projects is expected to secure profitability, with total BESS capacity, including projects under development, reaching 450MW, projecting JPY 7.5-8.5 billion in EBITDA by FY3/2031.