Tomen Invites Tokyo Electric Power Company (TEPCO) to Become Strategic Energy Partner; Companies Join Forces to Strengthen Tomen Power Holdings Corporation (TPHC) as World's Leading Wind and Renewable Energy Company
2002-06-26
Tomen Corporation and the Tokyo Electric Power Company, Incorporated (9501 TEPCO) jointly announced today that, in September 2002, TEPCO will invest in Tomen Power Holdings Corporation (TPHC). TPHC is Tomen's wholly owned subsidiary and operates its global clean energy wind power projects. Tomen and TEPCO concluded their agreement today. Tomen is the world's leading wind power developer and TEPCO is Japan's largest electric utility.
TEPCO will purchase part of Tomen's holding shares of TPHC as well as new shares, which TPHC will issue in the form of an allotment. This will make TEPCO a 50% shareholder of TPHC. The two companies will sign a final contract by the end of August 2002 that will include the joint venture's form of investment, company name and board membership.
In November 2001, Tomen spun off part of its Power & Utility Projects Division and created TPHC, integrating Tomen's worldwide subsidiaries that operate their clean energy power generation projects. Tomen's strategic partner brings complementary expertise, resources and capabilities that will further enhance its worldwide wind power generation business.
TPHC has established the leading position among the world's wind power developers. It operates wind power generation projects in the United States, England, Spain, Italy and Japan, with a total electric generation capacity of 538 thousand kilowatts of current operating projects, and total electric generation capacity of 3,074 thousand kilowatts including projects under construction and development.
TEPCO operates its own wind power generation business in Hachijojima Island.It also actively promotes the importance of natural and renewable energy through purchasing surplus electric power from renewable energy sources including solar electric power generation plants, and supporting the Green Electric Power Foundation, among other activities. TEPCO's investment in TPHC enables it to share assets and expertise in wind power projects not only in Japan but also in the United States and Europe. At the same time, TEPCO plans to enter into the global wind power generation business utilizing its accumulated expertise such as transmission line technologies, operation and maintenance of power generation facilities. Mr. Morihiko Tashiro, president of Tomen, said of the joint venture: "The agreement is a win-win agreement that will bring tangible benefits to both companies. Marrying TEPCO's technological expertise and information with Tomen's leadership position in the world wind power market, will make the rapid expansion of the new venture possible." He continued, "This will not only benefit Tomen and TEPCO's corporate value, but will greatly contribute positively to the global environment." | | 
Spain Paxareiras 
Italy IVPC
|
|
 Aomori Iwaya Wind Farm |  U.S.A. Mojave |  U.K. P&L |
Reference:
Tomen Power Holdings Corporation (TPHC), as of March 31, 2002
| Representative: | Mr.Yoshimasa Kondo, President and Representative Director |
| Date established: | November 1st, 2001 |
| Line of business: | power generation business by renewable energy including wind power |
| Number of employee: | 40 employees |
| Amount of capital: | 300 million yen |
| Shareholder: | Tomen Corporation (100%) |
Schedule:
| On June 26, 2002: | Tomen and TEPCO's boards of directors approved the agreement and the two companies signed the agreement. |
| August 2002: | The two companies shall sign the final contract. |
| September 2002: | Closing for payment of capital to form the joint venture company. |
Project List of Tomen Power Holding's Wind Power Projects June 2002
| Country | Location | Project Name | Capacity(kW) | | Operation Date |
|
| 1. In Operation |
| USA | California | Mojave 89 | 85,000 | December-89 |
| California | Viking | 28,800 | June-99 |
| UK | Wales | P&L | 30,900 | March-93 |
| Wales | RYG | 7,200 | March-93 |
| Spain | Galicia | Paxareiras I&II a | 39,600 | March-98 |
| Galicia | Paxareiras II c&f | 43,800 | December-99 |
| Galicia | Paxareiras II b | 21,600 | June-02 |
| Galicia | PEBSA | 29,000 | November-97 |
| Galicia | Vicedo | 24,600 | March-99 |
| Italy | South Italy | IVPC StageA | 59,400 | December-96 |
| South Italy | IVPC StageB+C | 76,800 | December-99 |
| South Italy | IVPC StageD | 33,000 | January-00 |
| Japan | Hokkaido | Tomamae Green Hill Wind Farm | 20,000 | October-99 |
| Aomori | Iwaya Wind Farm | 32,500 | November-01 |
| Hokkaido | Hamatonbetsu Wind Farm | 3,000 | November-01 |
| Hokkaido | Enbetsu Wind Farm | 3,000 | November-01 |
| | Total | 538,200 |
|
| 2. Under Construction and Contract Negotiation |
| Spain | Galicia | Paxareiras II d&e | 34,200 | (September-2002) |
| Galicia | Paxareiras II f+ | 7,800 | (September-2002) |
| Asturias | Bobia y San Isidro | 49,300 | (July-2002) |
| Japan | Aomori | Shitsukari Wind Farm | 19,300 | (November-2003) |
| Aomori | Odanosawa Wind Farm | 13,000 | (November-2004) |
| Iwate | Kamaishi Wind Farm | 42,900 | (November-2004) |
| Akita | Nishime Wind Farm | 30,000 | (November-2004) |
| Kagoshima | Kihoku Wind Farm | 20,800 | (February-2004) |
| | Total | 217,300 |
|
| 3. Under Development |
| USA | California and others | 586,000 | |
| UK | Offshore Wales | 130,200 | |
| Spain | Galicia and others | 617,400 | |
| Greece | Peloponnisos | 168,000 | |
| Japan | Tohoku, Hokkaido and others | 816,900 | |
| | Total | 2,318,500 | |
|
| | G.Total | 3,074,000 |
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