Tokyo Electric Power : TEPCO Energy PartnerCapital Increases through a Rights Issue for TEPCO Energy Partner International (Thailand)~Expanding Our Overseas Carbon Neutral Solution Services~

August 19, 2022

TEPCO Energy Partner, Inc.

TEPCO Energy Partner, Inc. established its first overseas subsidiary, TEPCO Energy Partner International (Thailand) Co., Ltd. (Managing Director: Yoshihiro Ueno; hereinafter referred to as, "TEPIT"), a consolidated subsidiary of TEPCO Energy Partner, for the purpose of providing energy services for Japanese companies based in the Kingdom of Thailand. The subsidiary began operations in August 2019.

(Announced on August 9, 2019)

TEPCO Energy Partner has increased TEPIT's capital through a rights issue.

TEPCO Energy Partner has been providing a variety of services, including renewable energy supply, installation of solar power generation equipment, and services related to energy-saving facility renovations at business sites (buildings, factories, etc.) in order to help our customers to achieve carbon neutrality (hereinafter referred to as, "CN").
In recent years, our business environment has changed dramatically in conjunction with the shift towards a carbon neutral society, and companies have wanted multifaceted and effective CN strategies for their entire supply chains due to changes in the energy market, and demands from ESG investors and international initiatives. At the same time, we have also seen an increase in the number of inquiries from Japanese companies on the global stage regarding how to achieve CN at their overseas facilities.

TEPIT's first solar power generation facility introduction project^*1 was completed in January 2022. TEPIT has helped customers achieve CN through the sale of international renewable energy certificates (I-REC^*2), etc., and in recent years has been engaged in a solar power corporate PPA project in Southeast Asia in coordination with Constant Energy, which is a partner of Tokyo Electric Power Company Holdings, Inc.
Based on customer demands for the creation of a carbon neutral society and changes in the social and business environment, TEPIT has procured 13 million Thai baht (approximately ¥50 million) of capital from capital increases through shareholder allocation from TEPCO Energy Partner and other shareholders. With the capital it has procured, TEPIT aims to further contribute to the achievement of CN and develop its business for Japanese companies with manufacturing facilities in Thailand and surrounding nations.

TEPCO Energy Partner will provide the best CN value to both domestic and overseas customers while leveraging the technical prowess and knowledge pertaining to energy that it has cultivated in Japan as it contributes to the creation of a carbon neutral society by 2050.

Overview of TEPCO Energy Partner International (Thailand) Co., Ltd.