Japan's TEPCO targets 7 GW of renewables, mostly offshore wind - report

Tokyo Electric Power Company Holdings Inc (TYO:9501), better known as TEPCO, plans to develop 6 GW to 7 GW of renewable energy projects both in Japan and overseas, including offshore wind power schemes, its president told Nikkei.

The Japanese electric utility will be looking for partners internationally to jointly finance these projects, which could be worth tens of billions of dollars, according to the report. TEPCO’s president Tomoaki Kobayakawa told the newspaper that the company will focus on offshore wind power. Moreover, it will seek to execute the projects using floating wind turbines given Japan’s deep coastal waters, which do not support fixed-foundations, the report mentions.

The company plans to start with installations off Japan’s Chiba Prefecture and then continue with other parts of Asia and Europe.

Meanwhile, TEPCO will also develop hydropower projects in Southeast Asia, the article mentions.

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