Japan's TEPCO to pour $7bn into renewable energy by fiscal 2030

Power company focuses on big offshore wind farms at home and abroad

20230616N floating wind turbine

TEPCO Renewable Power is working on a floating offshore wind project in Europe. (Photo courtesy of TEPCO Renewable Power)

NATSUKI YAMAMOTO, Nikkei staff writer

TOKYO -- Tokyo Electric Power Co. Holdings is looking to spend a total of 1 trillion yen ($7 billion) on renewable energy projects by fiscal 2030, building 6 gigawatts to 7 gigawatts in new capacity.

"With offshore wind alone, we want to develop 2 million to 3 million kilowatts [2 GW to 3 GW] both domestically and overseas," President Masashi Nagasawa, of subsidiary TEPCO Renewable Power, told Nikkei.

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