Start of FIP-Based Commercial Operation at the Onshore Wind Power Plant “Makikawa Masaki Wind Farm” - Enhancing the value of renewable energy and promoting sustainable regional development through the FIP scheme in Uwajima and Ainan, Ehime Prefecture -

GF Corporation (hereinafter "GF") and JR East Energy Development Company, Ltd. (hereinafter "JED"), together with Sumitomo Corporation, which participates in the Project as the aggregator*1, commenced commercial operation of the Makikawa Masaki Wind Farm (hereinafter the "Project") under Japan's Feed-in Premium (FIP) scheme*2 on March 1, 2026.

The Project was developed and constructed by Makikawa Masaki Wind Farm LLC*3, a special-purpose company jointly established by GF and JED, and reached completion on February 28, 2026. Electricity generated by the wind farm, together with its associated environmental value, will be fully purchased by Sumitomo Corporation from March 1, 2026, and sold to customers through market transactions and corporate power purchase agreements (PPA)*4. A portion of electricity sales revenue will also be allocated to initiatives such as supporting local agriculture, forestry and fisheries, as well as sponsoring local community events.

Makikawa Masaki Wind Farm Project Overview

The Project was initiated in August 2012, with environmental impact assessments commencing in April 2013. In accordance with the Act on Promoting Generation of Electricity from Renewable Energy Sources Harmonized with Sound Development of Agriculture, Forestry and Fisheries, a local council was established under the leadership of municipal governments. With the goals of regional revitalization, contribution to local primary industries and the promotion of renewable energy, the Project has been developed in cooperation with local stakeholders.
Project financing was provided through project finance arrangements involving financial institutions based primarily in the Shikoku region, including Iyo Bank, Awa Bank, Shikoku Bank, Tottori Bank, Tokushima Taisho Bank, Ehime Bank, Ehime Shinkin Bank and Uwajima Shinkin Bank.

Supply of Renewable Energy and Environmental Attributes Through Corporate PPAs and the Creation of Social Value

Although the wind farm was originally scheduled to operate under the Feed-in Tariff (FIT) scheme*5, it transitioned to the FIP scheme at the commencement of operations, enabling bilateral transactions with electricity customers. Sumitomo Corporation will assume full responsibility for the renewable energy electricity and environmental value generated by the wind farm, acting as an aggregator to supply renewable electricity to customers through corporate PPAs under optimized supply-demand operations, including demand forecasting and balancing. Supply-demand operations will be handled by ENEXIA LLC, a Sumitomo Corporation Group company, which will utilize digital technologies developed by data scientists and IT engineers to achieve sophisticated operational management.
By transacting the entire annual power output of approximately 72 million kWh, the Project will support reductions in CO₂ emissions among customer companies. In addition, discussions will be held with participating customers on concrete initiatives to promote local production and energy consumption.

Corporate PPA Business Scheme

Project Partner Comments

GF

The Project represents GF Group's first wind power generation project. Following extensive multi-year engagement with local stakeholders, we successfully transitioned from the development and construction phases to full commercial operations. While our core businesses have focused on renewable energy generation and engineering services, the Project marks an important milestone as we work to further promote clean energy adoption and the smart transformation of society. Through this initiative, we aim to realize the GF 60th Vision of becoming a "Great Local Company" rooted in the communities we serve.

JED

JR East Energy Development is responsible for the development of renewable energy sources and the operation of power plants as part of the JR East Group's long-term environmental goal, "Zero Carbon Challenge 2050." The Project is one of our wind power initiatives aimed at creating renewable energy for regional co-creation.In support of its objectives, regional railway operator Shikoku Railway Company (JR Shikoku) has endorsed the Project and provided partial financial support. By advancing the Project together with local stakeholders, we will create a source of energy that revitalizes the region while contributing to environmental conservation and regional sustainability.

Sumitomo Corporation

Through group-owned power sources such as the Abukuma Wind Farm in Fukushima Prefecture and the Summit Wind Power Kashima Wind Plant in Ibaraki Prefecture, Sumitomo Corporation has garnered expertise in power supply-demand operations and aggregator businesses. The Project represents an important milestone in expanding our domestic power business initiatives by providing aggregator functions not only for our power assets, but also for renewable energy facilities developed and operated by third parties. Leveraging our expertise, we will work to optimize renewable energy supply-demand operations and utilize corporate PPAs to enhance asset value for power producers while supporting decarbonization for customers. Through these efforts, we aim to further advance the sophistication of the power business and contribute to the realization of a decarbonized society in Japan and worldwide.

Project Overview

Power Plant Name	：	Makikawa Masaki Wind Farm
Location	：	Mountain ridge areas in Uwajima and Ainan, Minamiuwa District, Ehime Prefecture
Commercial Operation Date	：	March 1, 2026
Installed Capacity	：	28,800 kW *Output controlled to grid connection capacity of 25,000 kW
Annual Electricity Generation	：	Approx. 72 million kWh / year *Equivalent to the annual electricity consumption of approx. 18,000 households
Operating Period	：	March 2026–February 2046 (20 years)

*1 Aggregator
A business operator that aggregates multiple power sources, primarily renewable energy plants, procures electricity, conducts generation forecasting and supply–demand optimization, and supplies electricity to customers to ensure stable power supply, including renewable energy
*2 FIP Scheme
The Feed-in Premium (FIP) scheme provides renewable energy generators with a fixed premium added to the market price of electricity sold, incentivizing investment and promoting the wider adoption of renewable energy. Electricity may be sold via the wholesale electricity market or directly to customers
*3 Makikawa Masaki Wind Farm GK
Established in July 2019 with GF and JED
*4 Corporate PPA
PPA stands for Power Purchase Agreement, referring to a long-term contract under which a company purchases renewable electricity directly from a power generator
*5 FIT Scheme
The Feed-in Tariff (FIT) scheme requires general transmission and distribution operators to purchase electricity generated from renewable sources at a fixed price for a fixed period

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