Investment towards domestic thermal power generation business and acquisition of a thermal power plant
Friday, Jan 31, 2014
Marubeni Corporation ("Marubeni") has established Marubeni Thermal Power Co., Ltd. (“MTPC”), which operates and maintains the domestic thermal power generation assets of Marubeni, and also acquired 100 percent of all shares in Nakasode Clean Power Co., Ltd. ("NCP"), a combined cycle gas turbine power generation company from domestic electricity retailing company F-Power.
Marubeni and F-Power have until now purchased the electricity generated by NCP, which has a total generating capacity of 100MW. Following this acquisition, Marubeni plans to take over facility operations and use all of the electricity produced for its electric retailing business.
In response to the liberalization of the high voltage zone electricity retailing business in 2000, Marubeni registered its business in the same year and has since worked on developing its electricity retailing business. At present, discussions by the Ministry of Economy, Trade and Industry on the full liberalization of the electricity retailing business by 2016 are ongoing. Marubeni positions this acquisition as a stepping stone to further securing sources for its electricity retailing business in addition expanding its domestic thermal power projects.
Source: Marubeni Corporation