Japanese refiners join biomass power projects

摘要

Japanese oil refiners are buying stakes in biomass power generation projects amid stagnant growth in oil product demand and plans to deregulate the retail power sector. Refiners are increasingly interested in the biomass sector, which has seen a surge in investment since it was included in Japan’s feed-in-tariff scheme in 2012. Tokyo’s plan to deregulate the retail power market in 2016 has also prompted oil firms to diversify into the electricity sector in search of higher profits.