Kansai Electric has announced a policy of investing a total of ¥100 billion in the development of overseas renewable energy projects and power transmission and distribution networks, while carrying forward its development expertise. It will also proceed with the sale of its thermal power interests and raise its renewable energy target. It is expected to participate in a pumped-storage hydropower plant in the Philippines in July.
Kansai Electric is expanding its overseas renewable energy business and has successively participated in hydropower projects in Asia and wind power projects in Europe. It has announced a policy of investing a total of ¥100 billion over the next 3 years in the development of renewable energy and power transmission and distribution networks, while carrying forward its development expertise.
Renewable energy is also expected to account for a larger share of earnings, and the company is moving toward selling the thermal power interests that have been the core of its overseas business to date. The renewable energy share is expected to exceed 50% of generating capacity in fiscal 2025.
In July, the company is expected to announce its participation in a pumped-storage hydropower plant in the Philippines, advancing the expansion of its overseas renewable energy assets and the accumulation of expertise.