Tepco, long a mainstay of the nuclear industry, pivots to renewable energy, and seeks overseas partners

“We must gain competitive advantage in renewable energy”, says President Tomoaki Kobayakawa. The main focus will be offshore wind.

Nikkei Asian Review coyly points to the possible reason: “Tepco’s radical change in direction comes in a business environment where a higher earning potential has become harder to find. The company’s nuclear power business was able to generate power at relatively low cost, but the Fukushima Daiichi disaster in 2011 forced the shutdown of every single Tepco reactor, which continues to this day.”

Image: Hurryet Daily News

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