Sumitomo Corporation - Demonstration experiment begins to realize solar panel reuse and recycling business

Sumitomo Corporation (hereinafter referred to as 'Sumitomo Corporation'), Sumitomo Mitsui Finance & Lease Co., Ltd. (hereinafter referred to as 'SMFL'), SMFL Mirai Partners Co., Ltd. (hereinafter referred to as 'SMFL Mirai Partners'), Avidu Co., Ltd. (hereinafter referred to as 'Avidu'), and SMART Co., Ltd. (hereinafter referred to as 'SMART') (hereinafter collectively referred to as the '5 companies') have signed a memorandum of understanding for a demonstration experiment aimed at realizing a reuse and recycling business for used solar panels.

In order to realize a carbon-neutral society by 2050, various types of renewable energy are being popularized in Japan. In particular, solar power generation is becoming more popular and is expected to account for 10.6% of Japan's power supply mix in 2022, and 14-16% in 2030.

On the other hand, one of the issues with solar power generation is the disposal of the solar panels used for power generation. The lifespan of solar panels is generally considered to be 20 to 30 years, and 800,000 tons (approximately 40 million panels) are expected to be discarded annually in the 2030s, so there is a sustainable way to reduce waste through reuse and recycling. There is a need to build a viable supply chain.

Following this memorandum of understanding, the five companies will begin demonstration experiments aimed at establishing a solar panel reuse and recycling business. We will focus on securing used solar panels needed to build a supply chain and establishing sales channels for reused and recycled solar panels.

Sumitomo Corporation has set the goal of making its business activities carbon neutral by 2050, and is working to reduce CO2 emissions and expand the supply of renewable energy in a variety of businesses, including hydrogen, storage batteries, electric vehicles, and solar PPA businesses . is. Through this demonstration, we aim to establish the reuse and recycling of solar panels and promote a sustainable solar power generation business, thereby contributing to climate change mitigation and the realization of a sustainable society.

The SMFL Group has set out to be a company chosen by the future through SDGs management as one of our visions in the SMFL Way, which describes our management philosophy and management policy, and we offer a variety of services to support the achievement of the SDGs. We offer Furthermore, in our medium-term management plan, we have set the theme of 'Pursuing the strengths of a business company with a wide range of financial functions and taking on the challenge of resolving social issues,' and we are promoting initiatives to realize a circular economy.

Avidu contributes to the reduction of CO2 emissions and resource extraction through reuse and recycling in response to mass disposal of used products, which is a social issue, and provides material sorting technology necessary for the supply chain of a circular economy . By doing so, we aim to create a sustainable society.

SMART provides safety and security to stakeholders during the dismantling and demolition work of equipment and plants, and contributes to a recycling-oriented society with construction methods that contribute to the effective use of resources. Additionally, in the demolition and removal work of renewable energy production facilities, we will adopt construction methods that protect the natural environment after removal.