The renewable power unit of the nation’s biggest utility plans to spend more than ¥2 trillion ($18 billion) over the next 10 years to boost its green power generation by as much as 70 percent.
The push by Tokyo Electric Power Co. Holdings Inc. (Tepco) comes as institutions in Japan are under increasing pressure to curb support for coal, both at home and abroad, and as Prime Minister Shinzo Abe’s government seeks to bolster the role of clean power.
The unit, Tepco Renewable Power, plans to help fund its new ventures through a green bond offering that may exceed ¥10 billion and is likely to come before March, according to President Seiichi Fubasami.
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