Preliminary Selection Result for Financing Programme for JCM Model Projects in FY2024 (6th Round)

Global Environment Centre (GEC) as an implementing organization for the Financing Programme for Joint Crediting Mechanism (JCM) Model Projects in FY2024, has been soliciting proposals for the financing programme and is announcing four new projects selected for the programme in FY2024 (6th round).
 

JCM Outline

Since 2013, Japan has established the JCM with 29 partner countries and over 250 projects have been selected. The JCM’s 29 current partner countries are: Mongolia, Bangladesh, Ethiopia, Kenya, Maldives, Vietnam, Laos, Indonesia, Costa Rica, Palau, Cambodia, Mexico, Saudi Arabia, Chile, Myanmar, Thailand, Philippines, Senegal, Tunisia, Azerbaijan, Moldova, Georgia, Sri Lanka, Uzbekistan, Papua New Guinea, United Arab Emirates, Kyrgyz Republic, Kazakhstan, and Ukraine.

The JCM aims to reduce GHG emissions in developing countries and others by utilizing advanced decarbonizing technologies. Under the JCM scheme, Japan is facilitating the diffusion of leading decarbonizing technologies and infrastructure, etc. as well as the implementation of mitigation actions in partner countries. The JCM contributes to the achievement of Japan’s and partner countries’ NDCs while ensuring the avoidance of double counting through corresponding adjustments consistent with Article 6 of the Paris Agreement.

These JCM activities are in accordance with the “Plan for Global Warming Countermeasures (Cabinet decision in February 2025),” the “MOE Japan Policy for Implementing Article 6 of the Paris Agreement after COP26 (November 2021),” and the “Grand Design and Action Plan for a New Form of Capitalism and Follow-up (Cabinet decision in June 2022).”

(For further information of the JCM: https://www.jcm.go.jp/)

JCM Model Projects Outline

The JCM Model Projects of MOE Japan provide financial support of up to 1/2 of the initial investment cost for projects. Representative participants in the JCM Model Projects shall conduct measurement, reporting, and verification (MRV) of GHG emission reductions. In addition, this financing support programme is expected to contribute to global decarbonization by disseminating and deploying advanced decarbonizing technologies while ascertaining in detail the needs of partner countries.

Overview of Selected Projects

GEC accepted project proposals for FY2024 between 5 April 2024 and 29 November 2024. Four new projects listed below were selected based on the results of reviewing proposals, conducting interviews, acceptance/rejection review and confirming that there is ‘no objection’ raised by the Joint Committee of respective partner countries. GEC will further examine the project contents and provide a notice to the representative participants for the final decision before the proposed projects are implemented.

Projects Selected in the sixth round for FY2024

No. Partner Country Representative Participant Project Title
Expected GHG Emission Reductions
(tCO2/year)
12 Thailand MinebeaMitsumi Inc. 104MW Solar Power and 129MWh Storage Battery Project in Bang Pa-in, Ayutthaya Province

43,577
[Outline of the project]

  • The project introduces a 104 MW ground mount solar power plant with 129 MWh storage battery in Bang Pa-in, Ayutthaya Province. All the electricity generated by the independent solar plant is consumed by the Bang Pa-In Plant of NMB-Minebea Thai.
  • This project reduces greenhouse gas (GHG) emissions by replacing part of the electricity from the fossil fuel-derived grid power with renewable energy.
13 Thailand MinebeaMitsumi Inc. 48MW Solar Power and 60MWh Storage Battery Project in Lopburi Province 21,545
[Outline of the project]

  • This project introduces a 48 MW ground mount solar power plant with 60 MWh storage battery in Lopburi Province. All the electricity generated by the independent solar plant is consumed by the Lopburi Plant of NMB-Minebea Thai.
  • This project reduces greenhouse gas (GHG) emissions by replacing part of the electricity from the fossil fuel-derived grid power with renewable energy.
14 Thailand Tokyo Century Corporation Introduction of Solar Power and Heat Battery to Packaging Factory

2,969
[Outline of the project]

  • This project introduces a Solar Power system and a Heat Battery at the adjacent land to a packaging factory in Songkhla Province to supply steam generated by the stored heat to the factory.
  • Heat Battery generates heat using electricity from the renewable energy, and the stored heat is used to generate steam. The steam is supplied to the Packaging Factory stably day and night. This project thereby reduces greenhouse gas (GHG) emissions by replacing the use of fossil fuels in existing boilers with renewal energy.
15 Tunisia Eurus Energy Holdings Corporation 100MW Solar Power Project in Sidi Bouzid Region 91,118
[Outline of the project]

  • A 100 MW solar power system with single-axis tracker is installed in Sidi Bouzid Region.
  • The generated electricity is sold to the Tunisian Company of Electricity and Gas (STEG) to replace a part of grid electricity with renewable energy and to reduce greenhouse gas (GHG) emissions.

[Reference 1] Positioning of the JCM in the Plan for Global Warming Countermeasures (Cabinet decision, February 2025) http://www.env.go.jp/earth/ondanka/keikaku/250218.html (Available in Japanese)

Japan will establish and implement the JCM in order to quantitatively evaluate contributions of Japan to GHG emission reductions and removals, which are achieved through the diffusion of, among others, leading decarbonizing technologies, products, systems, services, and infrastructures as well as through the implementation of measures in developing countries and others, and in order to use such contributions to achieve Japan’s Nationally Determined Contribution (NDC). By doing so, through public-private collaborations, Japan aims to secure accumulated emission reductions and removals at the level of approximately 100 million t-CO2 by fiscal year 2030.

[Reference 2] MOE Japan Policy for Implementing Article 6 of the Paris Agreement after COP26 (November 2021) https://www.env.go.jp/annai/kaiken/files/r04/cop26%206jou.pdf (Available in Japanese)

At COP26, the Rulebook for Article 6 (market mechanisms) of the Paris Agreement was concluded, paving the way for utilizing market mechanisms to reduce global emissions. Leading Article 6 negotiations and being a frontrunner with the experience of the Joint Crediting Mechanism (JCM), Japan will take the following three actions to contribute to global decarbonization.

< Three actions >
1. Expand JCM partner countries and strengthen project development and implementation in collaboration with international organizations
2. Scale up the JCM by mobilizing further private finance
3. Contribute to the global operationalization of market mechanisms.

[Reference 3] Grand Design and Action Plan for a New Form of Capitalism and Follow-up (Cabinet decision, June 2022) https://www.cas.go.jp/jp/seisaku/atarashii_sihonsyugi/pdf/fu2022.pdf (Available in Japanese)

For achieving the target of the JCM, accelerating consultations to expand partner countries up to approximately 30 countries worldwide by around 2025.

[Reference 4] Projects selected in the first round (October 18, 2024)https://gec.jp/jcm/kobo/mp241018/

[Reference 5] Projects selected in the second and the third round (December 6, 2024)https://gec.jp/jcm/kobo/mp241206/

[Reference 6] Projects selected in the fourth and the fifth round (March 13, 2025)https://gec.jp/jcm/kobo/mp250313/

Organization Contacts

For further information, please contact:

Attn: Masami ISHIHARA, Michikazu SHIMA

Financing Programme Group, Tokyo Office Global Environment Centre (GEC)
4th Floor Hongo Ozeki Bldg., 3-19-4 Hongo Bunkyo-ku, Tokyo 113-0033, Japan
E-mail：jcm-info@gec.jp