Tokyo Electric Power has signed a Memorandum of Understanding with a clean energy firm to expand its renewable energy business.
Tokyo Electric Power and Orsted will work together on the Choshi offshore wind project near Tokyo, for which TEPCO has been carrying out a seabed survey to examine its feasibility.
The partnership aims to expand the utility’s offshore wind development projects to ensure the security of its energy supply.
Tomoaki Kobayakawa, president of TEPCO, said: “We are confident that the partnership combining TEPCO’s extensive expertise in the Japanese power business and Ørsted’s unparalleled track record in the offshore wind business will lead to success in the Choshi project. We hope that this first step paves the way for expansion beyond the coastlines of Japan for the development, construction, operation and ownership of offshore wind projects.”
“TEPCO is aiming to make renewable energy a core generating source by developing 6 to 7GW of renewable energy projects in Japan and overseas. The partnership with Ørsted will provide us with a very strong platform to scale up our renewable energy business as one of our main pillars of business growth.”
Ørsted CEO and President, Henrik Poulsen, remarked: “Our vision is to create a world that runs entirely on green energy, and we look forward to expanding our presence in the Asia-Pacific region and bringing over two decades of offshore wind knowledge into this partnership for the Choshi project.”
“As the largest player in the Japanese electricity industry, TEPCO has deep insights into the local power market and the regulatory requirements. This MOU is the first step in Ørsted and TEPCO’s aspirations to deliver on Japan’s ambitions for domestic renewable power generation at a large scale and contribute to making Japan a leading offshore wind market in the Asia-Pacific.”