Taihei Dengyo Kaisha to Acquire Land for Woody Biomass Power Plants

MT Newswires Live

Sep 09, 2024

Taihei Dengyo Kaisha (TYO:1968) plans to acquire land for woody biomass power plants as part of its green energy initiatives, according to a Tokyo Stock Exchange filing on Friday.

The company will use the proceeds from its second series of stock acquisition rights to fund these projects.

Taihei Dengyo Kaisha plans to acquire land in Chikusei City, Ibaraki Prefecture, for the development of woody biomass power plants. These plants are expected to contribute to the creation of new industries and employment opportunities in the region.

While the specific acquisition price remains undisclosed, the company confirmed that it will be less than 30% of its net assets. The funding for the land purchase will be sourced from the stock acquisition rights issued or, if necessary, from internal resources.

Price (JPY): $5310.00, Change: $-90, Percent Change: -1.67%

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