Toyota Tsusho has launched a new venture aimed at promoting renewable energy in Africa, to be named Aeolus.
Ownership of the new venture is split evenly between two wholly owned subsidiaries, CFAO and Eurus Energy.
CFAO has a long history in Africa, specifically in the sectors of mobility, healthcare, consumer, and infrastructure, while Eurus energy operates wind and solar projects in 15 different countries and regions.
The new venture will promote development in solar, wind and geothermal power generation.
“We look forward to the establishment of Aeolus more organically linking our strengths, thus creating synergies that are unique to the Toyota Tsusho Group,” Toyota Tsusho CEO Ichiro Kashitani said.
“For a bright future for the children of Africa, we will continue to move forward with local communities and partner companies to achieve through our business green economic development, solutions to social issues in Africa, and carbon neutrality. “
“We will harness CFAO’s strengths to the fullest, and together with Eurus Energy, accelerate renewable energy business in Africa to contribute to sustainable economic growth in Africa,” CFAO CEO Richard Bielle CEO said.