Tokyo Electric Power Company Holdings (TEPCO HD) is promoting the use of renewable energy as primary energy sources as it aims to develop projects on a total scale of six to seven million kW both within and outside of Japan. In order to achieve this goal, TEPCO HD has decided to form a separate company devoted to its renewable energy generation business by April 1, 2020.
The aims of this company-split are to create a company that will specialise in renewable energy sources intended to increase the recognition of TEPCO Group’s renewable energy business and coordinate with both domestic and overseas partners, as well as clarify responsibility and authority needed to make quick decisions about large-scale investments, and flexibly procure capital required for these investments. After the company-split, these objectives will be pursued while expanding the scale of the company’s business and increasing revenue with the goal of achieving 100 billion yen in profit in FY2030.