NTT to Invest 600 B. Yen in Electricity Biz over 6 Years
Tokyo, Nov. 12 (Jiji Press)--Nippon Telegraph and Telephone Corp. <9432> plans to invest a total of 600 billion yen in its electricity business over six years through fiscal 2025, it has been learned.
The power business enhancement program will be undertaken mainly by subsidiary NTT Anode Energy Corp., which was established in June, informed sources said.
The major Japanese telecommunications company will spend about 100 billion yen annually from fiscal 2020 during the six-year period, while promoting cooperation with electric power companies, the sources said.
NTT will install lithium-ion storage batteries in buildings owned by the company across Japan. Electricity to be produced by the battery systems will be provided to nearby facilities, such as hospitals and factories, in the event of power outages caused by disasters or other emergency situations.
The company will also promote the construction of solar and wind power generation facilities, with electricity from the facilities to be sold through Ennet Corp., another NTT subsidiary, the sources said.
[Copyright The Jiji Press, Ltd.]