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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Tokyo Gas Co.,Ltd.    9531   JP3573000001

TOKYO GAS CO.,LTD.

(9531)
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Tokyo Gas to Join Joint Venture for Offshore Wind Projects in Japan[PDF : 450KB]

11/24/2020 | 09:13pm EST

Press Release

November 25, 2020

Northland Power Inc.

Shizen Energy Inc.

Tokyo Gas Co., Ltd.

Tokyo Gas to Join Joint Venture for Offshore Wind Projects

in Japan

Northland Power Inc. (Northland) (TSX: NPI) and Shizen Energy Inc. (Shizen Energy) announce that Tokyo Gas Co., Ltd. (Tokyo Gas) has joined the joint venture established by Shizen Energy and Northland in 2019 for the development of offshore wind projects in Chiba Prefecture, Japan.

In conjunction with this alliance, each of the partners will be a shareholder of Chiba Offshore Wind Inc. (COW), the development vehicle for the projects.

Management and employees from each of the three companies are working together on the projects, with a combined team of more than 30 people. COW is developing the projects off the Pacific Ocean coastline of Chiba Prefecture, with the target to achieve promising area designation.

Tokyo Gas is Japan's largest provider of city gas with a proven track record of supplying energy to many customers, mainly in the Tokyo metropolitan area. The company will continue expanding its renewable power business, both domestically and overseas, to achieve its renewable power transaction volume target of 5GW by 2030. The aim of the company is to achieve its "Net Zero CO2" objective as set out in the Group Management Vision, "Compass 2030". Northland Power is a global developer, owner and operator of sustainable infrastructure assets, having extensive expertise and experience in offshore wind development. Shizen Energy has contributed to the development of approximately 1 GW worth of renewable energy domestically and overseas.

1

(From Left: Baba Satoshi, Senior General Manager, Tokyo Gas Co., Ltd.; Masaya Hasegawa, Representative

Director of Shizen Energy; and David Povall, Executive Vice President, Development of Northland)

Overview of Chiba Offshore Wind Inc.

Company Name

Chiba Offshore Wind Inc.

Establishment

11 September 2019

Shareholders

Northland Power Inc., Shizen Energy Inc., Tokyo Gas Co., Ltd.

Business Description

Development of Offshore Wind Power Plants in Chiba Prefecture,

Japan.

About Northland Power Inc.

Northland Power is a global power producer dedicated to helping the clean energy transition by producing electricity from clean renewable resources. Founded in 1987, Northland has a long history of developing, building, owning and operating clean and green power infrastructure assets and is a global leader in offshore wind. In addition, Northland owns and manages a diversified generation mix including onshore renewables, solar and efficient natural gas energy, as well as supplying energy through a regulated utility.

Headquartered in Toronto, Canada, with global offices in eight countries, Northland owns or has an economic interest in 2.7 GW (net 2.3 GW) of operating generating capacity and a significant inventory of early stage development opportunities encompassing nearly 4.0 GW of potential capacity.

Publicly traded since 1997, Northland's common shares, Series 1, Series 2 and Series 3 preferred shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B and NPI.PR.C, respectively.

2

About Shizen Energy Inc.

Founded in June 2011 with the mission of "We take action for the blue planet", Shizen Energy Group has contributed to the development of approximately 1 gigawatt (as of the end of December 2019) worth of renewable energy across Japan. It is engaged in all services required for the installation and operation of solar, wind, small hydroelectric, and other renewable energy power plants including: development, EPC (engineering, procurement, construction), O&M (operation and maintenance), retail electricity market, and asset management. The company intends to construct photovoltaic power plants world-wide, beginning with the regions of Asia and South America. In 2018, we launched the construction of such plants in Indonesia and Brazil.

About Tokyo Gas Co., Ltd.

Tokyo Gas Co., Ltd. is Japan's largest provider of city gas and is also one of Japan's largest PPSs with 3GW capacity, primarily in the Tokyo metropolitan area and surrounding Kanto region.

Tokyo Gas Group management vision "Compass 2030" announces to expand our renewable business not only domestically but also globally, setting our renewable energy target of 5GW by 2030. The group aims continuous growth renewable energy business, rooted the local communities and society.

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Tokyo Gas Co. Ltd. published this content on 25 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2020 02:08:01 UTC


© Publicnow 2020
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