2 weeks Ago
Tokyo Gas is considering around five to 10 wind power projects in Southeast Asia, Jiji Press learned Thursday. The move is part of the company's efforts to develop its overseas renewable energy business into a new growth pillar amid the global decarbonization movement. The gas utility is expected to make final investment decisions on some of the envisaged projects as early as 2025.
The wind power projects are expected to be located in the Mekong region, mainly in Vietnam, and to each have a power generation capacity of 50 to 100 megawatts. Tokyo Gas will cooperate with local companies to find sites suitable for wind power generation. The Japanese company plans to boost earnings from overseas operations to ¥50 billion ($333 million) in 2030 by focusing on renewable energy operations in addition to those related to liquefied natural gas.
It has so far launched a large solar power plant in the United States and invested in a Danish firm to participate in a wind power project in Europe. "Wind power projects are efficient, because the per-project investment is high," Takashi Nakao, head of its subsidiary in Singapore, Tokyo Gas Asia, said..
