9th March, 2021
The Chugoku Electric Power Co., Inc.
Equity participation in Hydroelectric power IPP business in Taiwan
We, The Chugoku Electric Power Co., Inc. ("Chugoku Electric") and Chudenko Corporation (“Chudenko”), are pleased to announce that we have jointly completed equity acquisition process of hydroelectric power IPP business in the vicinity of Hualien County, Taiwan.
This is our second overseas power generation IPP business and first overseas hydroelectric power project.
We have acquired 25% (in word : Twenty Five percent) shares of Shih Fong Power Co., Ltd. ("Shih Feng") (世豊電力股份有限公司) from FIT Holding Ltd.,(崴強科技股份有限公司) through our investment company*("C&C")
Shih Feng is currently constructing Feng Ping Xi Hydropower station(豊坪渓発電所) with total 37.1MW generation capacity and expected to commence commercial operation in 2024, and Taiwan Power Company is expected to be an power off-taker.
It is our company’s mission to focus on carbon-neutral technology development to realize carbon-neutral society and regional sustainable growth through our energy providing services.
- *"C&C Investment Corporation" jointly established by Chugoku Electric and Chudenko on a 50:50 basis