Tokyo Gas and EWII to develop renewable projects in the Nordic region

• 2 years ago (2022-01-25)
• David Flin

Europe 1061 Renewables 751

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Tokyo Gas and the Danish energy company EWII have agreed to jointly develop 1 GW of renewable energy capacity in the Nordic region by 2030. As part of the initiative, Tokyo Gas will establish a subsidiary in Denmark called TG Nordic. TG Nordic will acquire a 50 per cent stake in EWII’s subsidiary EWII Production. Once the deal is completed, EWII Production will be renamed as TOWII Renewables.

EWII Production is involved in developing renewable energy projects and currently owns and operates ten onshore wind projects in Denmark, with a combined capacity of 54.5 MW.

Takashi Uchida, President and CEO of Tokyo Gas, said: “We are very pleased to have the opportunity to participate in the renewables business together with EWII, which has been operating in the onshore wind business for many years. This will be our first step to participate in the renewables business in Europe, and it will be a big challenge for us. Through the collaboration with EWII, we will aim to develop 1 GW of renewable energy and also contribute to the achievement of CO2 net-zero, as stated in our Compass 2030 initiative.”

The two companies have not disclosed the financial details of the deal.