Japan's Top Power Producer Jera Considers IPO to Fund Green Push [Financial Post (Toronto, Ontario, Canada)]
TOKYO ELEC PWR UNSP/ADR (TKECY)
NASDAQ:AMEX Investor Relations:
tepco.co.jp/en/corpinfo/ir/top-e.html
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Japan's biggest utility, Jera Co., is considering an initial public offering to help fund a massive rollout of renewables. The Tokyo-based company plans to develop 20 gigawatts of renewable generation capacity by fiscal 2035, about six times its current pipeline, Yukio Kani, chairman and co-chief executive officer of the company, said in an interview. Article content Article content “Trillions of yen in investment will be needed,” Kani said. “It's possible that we will invite another shareholder to invest or ultimately consider IPO as an option,” he said, without specifying a timeline, bourse or the size of a potential share sale. A 50-50 venture between Tokyo Electric Power Co. and Chubu Electric Power Co., Jera was set up in 2015 to become one of the world's biggest liquefied natural gas buyers. It currently has a target for 5 gigawatts of renewables by fiscal 2025.
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