Alliance Agreement on Capital and Business Partnership
February 23, 2017
Alliance Agreement on Capital and Business Partnership
Tokyo Gas Co., Ltd.
Shizen Energy Inc.
Tokyo Gas Co., Ltd. (Headquarters: Minato-ku, Tokyo; Michiaki Hirose, President; hereinafter “Tokyo Gas”), and Shizen Energy Inc. (Headquarters: Fukuoka-shi, Fukuoka; Ken Isono, Kenji Kawado and Masaya Hasegawa, Representative Directors; hereinafter “Shizen Energy”) have agreed upon a business partnership for the photovoltaic power business, and today signed an alliance agreement on capital and business involvement (hereinafter “the alliance”).
Engaging in the renewable energy business is a part of the long-term strategy plan of Tokyo Gas, “Challenge 2020 Vision” adopted in 2011 and since then Tokyo Gas has been planning its engagements into the renewable energy business; such as the purchase of the renewable power and investment into renewable energy projects. With the alliance, in addition to the knowledge and know-how of Shizen Energy regarding the renewable energy business in the past, Tokyo Gas aims to acquire knowledge of business development for promoting the utilization of renewable energy.
Shizen Energy group (including Shizen Energy) is the one-stop service provider for renewable energy such as photovoltaic power business; developing, engineering, procuring, constructing, O&M. In the photovoltaic power business, it has engaged the development on the scale of power supply equal to about 600MW all over Japan in the past, with aiming to construct power plants together with people from the local community. With the alliance, Shizen Energy aims to the further its own growth and the further development of its renewable energy business.
With this alliance, both of the companies will consider the development of the photovoltaic power business together and will work together to expand the renewable energy industry. Our first target is the securing of a photovoltaic power supply of 60MW* at the earliest possible date. Tokyo Gas will take a stake in Shizen Energy. Tokyo gas will provide the power sources for the sectors of former general electricity utilities.
Tokyo Gas and Shizen Energy are continuing to support the growth of the renewable energy market and the realization of a sustainable society in the future.
