Tokyo Electric Power Company Holdings (TEPCO) is to create a separate company that will focus on renewable energy generation.
The decision was made by TEPCO’s board of directors to set up the company by 1 April 2020.
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The new subsidiary of TEPCO will develop and invest in clean energy generation projects both in Japan and in global markets.
The company will coordinate with both domestic and overseas partners, as well as clarify responsibility and authority needed to make quick decisions about large-scale investments, and flexibly procure capital required for these investments.
The new Company will be formed as a succeeding company in October 2019 after which TEPCO and the subsidiary will execute an absorption-type split agreement in November.