Press Release

Preliminary Selection Result for Financing Programme for JCM Model Projects in FY2020 (1st Selection)

August 31, 2020

On August 31, 2020, the Ministry of the Environment, Japan is pleased to announce that 1 project was additionally selected in the first selection of the proposals for the Financing Programme for JCM Model Projects in FY2020. The greenhouse gas (GHG) emission reductions through the JCM model projects are expected to accumulate to around 17.2milion tons by 2030.

The ministry will further promote the Joint Crediting Mechanism (JCM) to contribute to global GHG emission reductions through the diffusion of leading low carbon or decarbonizing technologies.

1.Financing Programme for JCM Model Projects

This programme provides up to 1/2 of the initial cost of a project to be implemented in developing countries which utilizes leading decarbonizing technologies and conducts measurement, reporting and verification (MRV) of GHG emission reductions.

The purpose of this programme is to reduce GHG emissions in developing countries as well as to achieve the GHG emission reduction target by the Japanese government through the JCM. Moreover, based on the Overseas Development Strategy (Environment) compiled by the Cabinet Office in June 2018, the programme aims to promote overseas development of infrastructure through the diffusion of leading low carbon or decarbonizing technologies.

2. Overview of Selected Projects

The Government of the Kingdom of Saudi Arabia has set a policy in Vision 2030 to gradually increase the power generation capacity of renewable energy to 58.7GW (including 40.0GW of solar power) by 2030, and aims to introduce 27.3GW (including 20.0GW of solar power) by 2023. This selected project will contribute to supplying renewable solar power to electricity in Saudi Arabia.

The project will be further examined with the contents till the completion of contract of financing before the project is implemented.

No.

Partner Country

Project Title

Representative Participant

Expected GHG Emission Reduction

(tCO2/year)

1

Saudi Arabia

400MW Solar Power Project in Rabigh Region

Marubeni Corporation

477,129

Learn more about the JCM:

https://www.carbon-markets.go.jp/eng/jcm/

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Any questions or comments? Please write to us via MOE-mail.

Contact information:

Ryosuke HORIKAWA

Office of Market Mechanisms,

Climate Change Policy Division,

Global Environmental Bureau

Phone: +81-3-5521-8246

For Japanese

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