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ECONOMY

NGK Insulators, Abashiri City set up solar power company in Hokkaido

  • April 28, 2022
  • , NIKKEI Business Daily , p. 8
  • JMH Translation

By Jinno Kyosuke

 

NGK Insulators and the Hokkaido city of Abashiri have set up a solar power company. The pair aims to generate electricity that can supply 10% of the electricity consumed at public facilities in the city. They will also create an environment that will enable the local disaster preparedness center to function in case of emergency as the city experienced a blackout when a powerful earthquake hit the eastern Iburi district of Hokkaido in 2018.

 

The company is called “Abashiri Electric Power” (headquartered in Abashiri City) and it will start generating and supplying electricity in April 2023. It is capitalized at 70 million yen, with NGK Insulators investing 60 million yen and the city financing the remainder. Abashiri Electric Power aims to achieve nonconsolidated sales of 72 million yen for the year through March 2025. (Abridged)

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