Tokyo Electric Power Company Holdings, Inc. will cooperate with European and U.S. electric power startups with the goal of utilizing their renewable energy technology and marketing their energy conservation products. European and American companies are more advanced in renewable energy-related businesses. TEPCO wants to absorb the knowhow of the startups in advanced technology and services for application in its business operations in the Japanese market.
TEPCO has signed a basic cooperation agreement with a Portuguese and a U.S. company. They will also study the details for investment and setting up joint companies.
The Portuguese BeOn Energy markets easily installable solar power generation systems, while the U.S. company Simple Energy operates an e-commerce website proposing energy saving devices to customers based on the amount of electricity they consume and other data.
TEPCO set up a group for exploring overseas startups with seven major power companies in Europe and Asia last January. This will be TEPCO’s first project under this scheme. It has also started to solicit proposals for its second project, with a plan to select new partners by next March. (Slightly abridged)