Firm eyes move into Europe
TEPCO wants to start operations in Britain and elsewhere in Europe, as it looks for ways to offset the huge costs of the Fukushima disaster, a report said on Thursday.
The company will set up a joint venture in Britain by March 2016 with another Japanese company to make large-scale power storage facilities as part of its entry into the wholesale electricity market, the Nikkei said.
It would buy up excess power at night from generating companies and others with generation capabilities, store it, and then sell the electricity during the day when supply is tight, the economic daily said.
There is currently no suggestion the embattled company intends to operate power plants in Britain. TEPCO's partner is NGK Insulators, based in the central Japanese city of Nagoya, with whom it has developed large storage cells. Success in Britain would lead it to enter wholesale power markets in other places such as France and Germany, the Nikkei said.
AFP
(China Daily 06/27/2014 page11)
