TEPCO Power Grid, Chubu Electric Power Co. and ICMG Co. have agreed on the basic terms for establishing a joint venture in Singapore in July.
The collaboration is expected to facilitate opportunities for global electricity transmission and distribution, project investment, new business and global training.
TEPCO, which views global business expansion as a key growth strategy, believes that the fast-growing Asian market offers promising opportunities to significantly improve the company’s corporate value.
Chubu Electric Power is enhancing its revenue base by expanding its domestic and global energy businesses and entering new fields with growth potential.
The joint-venture company will leverage synergistic technologies and high-quality operations developed by TEPCO PG and Chubu Electric Power in Japan and complementary strengths of ICMG, including its robust partnership network and intellectual capital.
In addition to identifying opportunities to invest in existing projects and incubate new businesses, the company will organise a “leadership innovation” programme aimed at nurturing globally capable leaders skilled in investment and new business development.