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June 8, 2020

TEPCO to invest more than $9bn in renewables before 2030

By Matt Farmer

The president of Tokyo Elecric Power Company (TEPCO) has said it will spend $9.2bn-$18.4bn (¥1tn-¥2tn) on offshore wind and hydroelectric power before 2035.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The company’s subsidiary, TEPCO Renewable Power, will take half the stakes in 6-7GW of generation it is planning to develop.

TEPCO president Seiichi Fubasami recently told Reuters: “We aim to boost our profit to 100 billion yen in 2030 from 40 billion yen now.”

The developments would boost the company’s renewables portfolio to 25% of its business, up from 20%. After the meltdown of Fukushima nuclear plant in 2011, the company has had difficulty getting backing for new nuclear projects.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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