Tokyo Gas to spend $1.4 billion on renewable power at home and abroad
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TOKYO : Japan's Tokyo Gas is shifting its overseas focus to renewable energy and away from regional upstream gas projects as it seeks to combat climate change, its president said, although it will invest in liquefied natural gas (LNG).
In common with global peers, Japanese energy companies are changing their portfolios as they pursue 2050 carbon neutrality targets.
Japan's biggest city gas provider plans to spend 200 billion yen ($1.4 billion) over the next three years to boost its renewable capacity at home and abroad to 6 gigawatts by 2030 from 1.5 GW now, with a focus on offshore wind farms.
"We are shifting our overseas focus from upstream gas projects to renewable energy and Asia's infrastructure as we have limited resources ... and as we need to invest in decarbonisation," President Shinichi Sasayama told Reuters.
