Fiber and fabrics specialist Teijin Limited will convert the existing fossil-fueled power generation equipment at its Matsuyama plant to a combined heat and power system running on city gas. Cogeneration systems provide both electricity and heat on-site, and their high energy efficiency results in a significant reduction in carbon dioxide emissions. The Teijin group has set a long-term goal of achieving net-zero emissions at all of its own sites by 2050. Specific targets include reducing internal CO2 emissions by 30 percent of 2018 levels by 2030. Considering future business growth, the company needs to reduce its annual CO2 emissions by approximately 600,000 tons per year. The introduction of the gas-based cogeneration system at the Matsuyama plant is expected to account for about 30 percent of this reduction. Gas will be replaced with a carbon-neutral energy supply, further improving the plant’s environmental performance.
In January 2021, Teijin introduced an internal carbon price (ICP) calculation to determine the economics of investing in new facilities. The company based its decision to make the investment on projected cost reductions of EUR 50 per ton of CO2 emissions. The total investment sum is expected to exceed €69 million. It is anticipated that the generation capacity of the new power plant will be around 30,000 kW.
