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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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Tokyo Electric Power Incorporated : Japan's JERA to form floating wind farm joint venture with France's ADEME, Ideol

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06/22/2020 | 02:47am EDT

Japanese power generator JERA said on Monday it has agreed with France's state-owned investment firm ADEME Investissement and French floating wind technology supplier Ideol on key terms for forming a joint venture to develop floating offshore wind farms.

They aim to make a final agreement by the end of this year to jointly establish an investment vehicle to finance the development phase of at least 2 gigawatts(GW) of floating offshore wind projects using Ideol's technology, a JERA spokesman said.

Their goal is to have the joint venture be involved in the development of several floating wind farms across the globe in the next 5 years, with plans to make tenders for upcoming projects in Scotland and France in early 2020s, the spokesman said.

"We believe that floating offshore wind is on its way to confirm its potential and become a substantial contributor to achieving future climate goals," Arnaud Leroy, president of ADEME Investissement, said in the statement.

"This partnership aims at financing first commercial scale projects and at supporting Ideol's technology as both will contribute to accelerate the competitiveness of floating offshore wind," he said.

ADEME Investissement was created in 2018 under the French Agency for Environment & Energy Management (ADEME) to finance innovative infrastructure projects in ecological and energy transition areas.

JERA is the joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power Co.

(Reporting by Yuka Obayashi; Editing by Kim Coghill)


Stocks mentioned in the article
ChangeLast1st jan.
CHUBU ELECTRIC POWER COMPANY, INCORPORATED -0.66% 1203.5 End-of-day quote.-21.93%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INCORPORATED -1.06% 279 End-of-day quote.-40.26%
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Financials
Sales 2021 5 588 B 53 449 M 53 449 M
Net income 2021 205 B 1 964 M 1 964 M
Net Debt 2021 3 857 B 36 892 M 36 892 M
P/E ratio 2021 2,18x
Yield 2021 -
Capitalization 431 B 4 118 M 4 122 M
EV / Sales 2021 0,77x
EV / Sales 2022 0,79x
Nbr of Employees 37 892
Free-Float 92,8%
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Consensus
 
Mean consensus SELL
Number of Analysts 3
Average target price 300,00 JPY
Last Close Price 279,00 JPY
Spread / Highest target 21,9%
Spread / Average Target 7,53%
Spread / Lowest Target -6,81%
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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