Tokyo Gas is exploring the development of five to 10 wind power projects in Southeast Asia, as part of its strategy to expand its renewable energy portfolio and establish a new growth pillar amid global decarbonisation efforts.
According to media reports, the projects, primarily focused in Vietnam within the Mekong region, will feature power generation capacities of 50 to 100 megawatts each. Tokyo Gas plans to collaborate with local companies to identify suitable sites for wind energy generation.
The company is expected to make final investment decisions on some projects as early as 2025. This initiative aligns with Tokyo Gas’s ambition to generate ¥50 billion ($333 million) in earnings from its overseas operations by 2030, focusing on renewable energy and liquefied natural gas ventures.
Tokyo Gas has already launched significant renewable energy projects, including a large solar power plant in the United States and an investment in a Danish firm for a European wind power initiative.
“Wind power projects are efficient because the per-project investment is substantial,” said Takashi Nakao, head of Tokyo Gas Asia, a subsidiary based in Singapore.