Tokyo Gas and EWII S/I Agreed to Develop 1 GW of Renewable Energy in the Nordics by 2030

Source Press Release
Company Tokyo Gas 
Tags Corporate Deals, Deals, Renewable Energy, Power
Date January 19, 2022

Tokyo Gas Co., Ltd. (“Tokyo Gas”) and EWII S/I (“EWII”) agreed to jointly participate in the renewable energy business.

In 2022, Tokyo Gas will acquire 50% of EWII Production A/S, a subsidiary of EWII engaged in the development and management of renewable energy, and benefit from the 27 MW of the wind power assets held by EWII Production A/S, through Tokyo Gas’s new subsidiary in Denmark, TG Nordic ApS. After completion of the acquisition, EWII Production A/S will be renamed “TOWII Renewables A/S”.

EWII and Tokyo Gas will jointly develop renewable energy assets not only in Denmark*, but also in other Nordic countries, and will contribute to de-carbonization of the Nordics by aiming to develop 1 GW of renewable energy in the region by 2030.

*The Danish government has announced its intention to reduce CO2 emissions in Denmark to 70% of the emission levels in 1990 by 2030, and to achieve carbon neutrality in Denmark by 2050. This policy is expected to bring further growth of renewable energy in the country.

Commentary from EWII S/I CEO Lars Bonderup Bjørn

 We are very proud to establish this joint effort with Tokyo Gas. Not only have we partnered up with a financially strong energy company with whom we have a shared interest in the green transition. Also, we see this partnership as a potential to contribute to our global climate challenge, and for both parties there are mutual benefits and mutual learnings to make from a cooperation. Denmark has a long tradition in renewable energy and EWII has been part of the journey for many years, and our intention is to give as well as to gain from the co-operation.

Commentary from Tokyo Gas Co., Ltd. President & CEO, Takashi Uchida

We are very pleased to have the opportunity to participate in the renewables business together with EWII, who has been operating in the onshore wind business for many years. This project will be our first step to participate in the renewables business in Europe, and at the same time, it will be a big challenge for us. Through the collaboration with EWII, we will aim to develop 1 GW of renewable energy, and also contribute to the achievement of CO2 net zero, as stated in our “Compass2030” initiative.

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