INTERVIEW: TEPCO Unit to Beef Up Renewable Energy Biz

Economy

Tokyo, June 9 (Jiji Press)--TEPCO Renewable Power Inc. plans to seek new wind and hydroelectric power projects in Southeast Asia and elsewhere, its president, Seiichi Fubasami, has said in a recent interview.

"The global movement toward decarbonization won't change," he said, in response to the view that price competitiveness of thermal power generation is rising thanks to recent falls in crude oil prices. The renewable energy subsidiary of Tokyo Electric Power Company Holdings Inc. <9501> started operations in April this year.

On the back of growing environmental awareness, more and more companies and households are choosing renewable energies although they are costlier than conventional energy sources, Fubasami, 59, said.

TEPCO Renewable Power will study the possibility of expanding into wind power generation business in Vietnam, where it has already been engaged in hydroelectric power operations, he said.

The company is aiming to strengthen its hydropower business in Georgia, he also said. In the former Soviet republic, "we are considering connecting multiple hydroelectric plants to improve operational efficiency," Fubasami said.

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Jiji Press