Updated Mar 23, 2026 by Renova
RENOVA reported strong fiscal year 2023 results with revenue reaching 33.58 billion yen, a 15% increase, and EBITDA rising 38.3% to 18.1 billion yen.
The company projects fiscal year 2024 revenue to grow to 59 billion yen, driven by the scheduled commercial operation of four major biomass plants.
RENOVA maintains a long-term strategic goal of achieving 3,000MW of operational capacity by the end of fiscal year 2030.
The company is diversifying its revenue streams by entering the corporate Power Purchase Agreement (PPA) market, highlighted by a May 2023 virtual PPA with Murata Manufacturing.
Operational growth in 2023 was supported by the full-year contributions of the Kanda Biomass and Karumai Sonbou Solar plants, as well as the launch of the Minami-Aso Yunotani Geothermal plant.
To manage a 450MW biomass pipeline, RENOVA established a dedicated Biomass Energy Department and appointed a Chief Development Officer to oversee organizational restructuring.
Macroeconomic risks such as fuel and material price volatility are being mitigated through long-term procurement contracts, lump-sum EPC agreements, and interest rate hedging.
RENOVA reported strong fiscal year 2023 results with revenue reaching 33.58 billion yen, a 15% increase, and EBITDA rising 38.3% to 18.1 billion yen.
The company projects fiscal year 2024 revenue to grow to 59 billion yen, driven by the scheduled commercial operation of four major biomass plants.
RENOVA maintains a long-term strategic goal of achieving 3,000MW of operational capacity by the end of fiscal year 2030.
The company is diversifying its revenue streams by entering the corporate Power Purchase Agreement (PPA) market, highlighted by a May 2023 virtual PPA with Murata Manufacturing.
Operational growth in 2023 was supported by the full-year contributions of the Kanda Biomass and Karumai Sonbou Solar plants, as well as the launch of the Minami-Aso Yunotani Geothermal plant.
To manage a 450MW biomass pipeline, RENOVA established a dedicated Biomass Energy Department and appointed a Chief Development Officer to oversee organizational restructuring.
Macroeconomic risks such as fuel and material price volatility are being mitigated through long-term procurement contracts, lump-sum EPC agreements, and interest rate hedging.