26 June 2002 – Tokyo Electric Power Co (TEPCO) said on Wednesday it had provisionally agreed with Tomen Corp to take a 50 percent stake in the trading company’s wind power unit for about 10bn yen ($82.55m).
Tepco, Japan’s largest power utility, said in a statement that it would purchase some of the Tomen Power Holding Corp (TPHC) shares owned by Tomen, as well as acquire newly issued TPHC shares.
With the deal, Tepco aims to boost its wind power generation operations to prepare for tougher restrictions on carbon dioxide emissions in Japan.
Tepco currently only operates one 5o MW wind power plant located on the island of Hachijo-jima, about 290 km (180 miles) south of Tokyo, a spokesman for the Tokyo-based utility said.
Wind-generated power accounts for only a small portion of the nation’s power generation capacity.
TPHC operates wind power generation plants in the United States, Britain, Spain, Italy and Japan with a total generation capacity of 5380 MW.
A final agreement is due to be signed in August