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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Tokyo Electric Power Company Holdings, Incorporated    9501   JP3585800000

TOKYO ELECTRIC POWER COMPANY HOLDINGS, INCORPORATED

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TEPCO Renewable to spend $9-18 billion by 2035 on green power

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06/08/2020 | 10:10am EDT
The logo of TEPCO is pictured at the Energy Market Liberalisation Expo in Tokyo

By Yuka Obayashi and Ritsuko Shimizu

TEPCO Renewable Power, a unit of Tokyo Electric Power Company Holdings, plans to spend about 1-2 trillion yen ($9-18 billion) to develop 6-7 gigawatts (GW) of offshore wind and hydroelectric power projects by 2035, its president said.

"We aim to boost our profit to 100 billion yen in 2030 from 40 billion yen now" through the investments, Seiichi Fubasami, president of TEPCO Renewable Power, told Reuters last week in an interview.

Its parent TEPCO, which has been struggling to restart nuclear power stations after the Fukushima disaster of 2011, said in 2018 that it will develop 2-3 GW of offshore wind power each at home and abroad, and 2-3 GW of hydroelectric power overseas to help renewable energy become a core power source.

"We are sticking to the goal despite the COVID-19 pandemic," Fubasami said, adding his company plans to take around a 50% stake in the projects.

TEPCO Renewable owns 9.9 GW of power generation capacity, mainly hydroelectric in Japan. The additional assets would boost its renewable energy capacity to 25% of the group's total capacity, from 20% now.

"Southeast Asia and North America are our key targets for offshore wind, while Southeast Asia is our focus for hydroelectric," he said.

Japan's offshore wind power market is expected to take off after the government brought in a law last year to encourage the development of wind farms.

TEPCO and Orsted, the world's largest offshore wind farm developer, plan to jointly bid for a 370 megawatts offshore wind project off Choshi, Chiba prefecture, near Tokyo.

"We have a good chance to win as we have accumulated massive wind data as we already operate a wind farm in the area, and Orsted has expertise in building and parts procurements for wind farms," Fubasami said.

($1 = 109.0800 yen)

(Reporting by Yuka Obayashi; Editing by Kim Coghill)


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LOOK HOLDINGS INCORPORATED 0.83% 970 End-of-day quote.-22.52%
ORSTED A/S 0.50% 974.4 Delayed Quote.41.42%
SHIMIZU CORPORATION 0.81% 748 End-of-day quote.-32.97%
THE NEW HOME COMPANY INC. 0.60% 5.06 Delayed Quote.8.58%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INCORPORATED 1.41% 288 End-of-day quote.-38.33%
WILL GROUP, INC. 1.55% 852 End-of-day quote.-31.95%
WORLD CO., LTD. 1.31% 1397 End-of-day quote.-48.09%
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Financials
Sales 2021 5 563 B 53 113 M 53 113 M
Net income 2021 195 B 1 857 M 1 857 M
Net Debt 2021 3 820 B 36 473 M 36 473 M
P/E ratio 2021 2,37x
Yield 2021 -
Capitalization 461 B 4 404 M 4 406 M
EV / Sales 2021 0,77x
EV / Sales 2022 0,79x
Nbr of Employees 37 892
Free-Float 92,8%
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Technical analysis trends TOKYO ELECTRIC POWER COMPANY HOLDINGS, INCORPORATED
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
 
Mean consensus SELL
Number of Analysts 3
Average target price 300,00 JPY
Last Close Price 288,00 JPY
Spread / Highest target 18,1%
Spread / Average Target 4,17%
Spread / Lowest Target -9,72%
EPS Revisions
Managers
NameTitle
Tomoaki Kobayakawa Executive President & Director
Shoei Utsuda Chairman
Kimikazu Noumi Outside Director
Hideko Kunii Independent Director
Seiji Moriya Director
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