TEPCO Announces Organizational Changes
Sep 27, 2018
Tokyo, September 27, 2018 — Tokyo Electric Power Company Holdings, Inc. announced today that it would add two new divisions to its organizational structure with the establishment of the Corporate Real Estate (CRE) Promotion Office and the Wind Power Business Development Office on October 1.
CRE Promotion Office
The new CRE Promotion Office will consolidate or replace substations and other existing facilities for greater efficiency and will help the group subsidiaries, including TEPCO Energy Partner, to develop new business opportunities. The ultimate goal of these activities will be to further group business and services by leveraging comprehensive strengths.
The ownership and management of real estate, including business units charged with carrying out related development activities, has been handled by each group company since TEPCO was spun off into separate companies in 2016. TEPCO determined, however, that it had to change this model to ensure the group’s overall competitiveness, including to fulfill its responsibilities with regard to Fukushima. By facilitating increased collaboration with outside business partners in regard to group-held real estate, the new CRE Promotion Office is expected to contribute to TEPCO’s long-term growth.
Wind Power Business Development Office
The new Wind Power Business Development Office will develop offshore wind power in Japan and other markets under a strategy that envisions eventually establishing renewables as a core energy source for TEPCO. Ultimately, TEPCO hopes to generate 6 to 7 million kilowatts of power and profits amounting to 100 billion yen (about USD 900 million) annually from global activities focused mainly on wind power and hydropower.
The new Wind Power Business Development Office will expand TEPCO’s wind power business by integrating related knowhow and personnel to discover, research and develop opportunities on a global scale.