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TOKYO ELECTRIC POWER COMPANY HOLDINGS, INCORPORATED

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Tokyo Electric Power : HoldingsSigning of Consulting Agreement pertaining to Underground Substation Construction Project in Singapore

08/23/2021 | 04:54am EDT

August 23, 2021

Tokyo Electric Power Company Holdings, Inc.

TEPCO Power Grid, Inc.

KANDENKO CO., LTD.

On July 14 of this year, Tokyo Electric Power Company Holdings, Inc. (HQ: Chiyoda Ward, Tokyo; President: Tomoaki Kobayakawa; hereinafter referred to as, 'TEPCO HD'), TEPCO Power Grid, Inc. (HQ: Chiyoda Ward, Tokyo; President: Sadanori Kaneko; hereinafter referred to as, 'TEPCO PG') and KANDENKO CO., LTD. (HQ: Minato Ward, Tokyo; President: Toshio Nakama; hereinafter referred to as, 'Kandenko') entered into a consulting agreement with SP Group* (HQ: Singapore; Group CEO: Stanley Huang Tian Guan) pertaining to its underground substation construction project.

Singapore has a limited amount of usable land and SP Group is engaged in a project to construct an underground substation in Labrador, which is positioned as a new economic center, based on the government's policy to utilize underground areas for the construction of substations.
This will be the first 230kV underground electrical substation to be constructed in Southeast Asia and many technical challenges have to be addressed during the detailed design phase, such as achieving technical coordination between electrical equipment and buildings.

For this reason, SP Group has sought out technical partners with knowledge pertaining to underground substations which led to the signing of a consulting agreement with the TEPCO Group, which has over 40 years of experience in the design/construction and operation/maintenance of underground substations both within and outside of Japan.

In accordance with this consulting contract, the TEPCO Group will provide technical support until completion of construction in the form of the deliberation of specifications for transformer equipment and underground transmission cables required in an underground substation and for construction procurement, the technical assessment of bidders, and the management of structure construction and schedules, etc.

TEPCO HD, TEPCO PG and Kandenko will help SP Group make this underground substation a reality, and achieve Sustainable Development Goals 7 (Ensure access to affordable, reliable, sustainable and modern energy for all) and 9 (Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation) in Singapore, while also leveraging the facility planning and design/grid management technology that they cultivate through consulting projects overseas and transmission/distribution projects in Japan to further expand their overseas businesses.

*SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore and China.

Disclaimer

TEPCO - Tokyo Electric Power Company Holdings Inc. published this content on 23 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2021 08:53:02 UTC.


© Publicnow 2021
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Sales 2022 5 121 B 44 811 M 44 811 M
Net income 2022 83 275 M 729 M 729 M
Net Debt 2022 4 215 B 36 885 M 36 885 M
P/E ratio 2022 9,47x
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EV / Sales 2023 0,96x
Nbr of Employees 37 891
Free-Float 92,8%
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Number of Analysts 2
Last Close Price 354,00 JPY
Average target price 260,00 JPY
Spread / Average Target -26,6%
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Managers and Directors
Tomoaki Kobayakawa Executive President & Director
Yoshimitsu Kobayashi Chairman
Hideko Kunii Independent Director
Hideo Takaura Independent Outside Director
Shigeo Ohyagi Independent Outside Director
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