| Toshiba Corporation and ORIX Corporation Establish Business
Planning Operation for Power Generation Business|
15 April, 2003
Tokyo--Toshiba Corporation and leading financial services company ORIX Corporation today announced their collaboration in a newly established joint venture that will guide the planning and start-up of an independent power-generation business in Yamaguchi prefecture in western Japan.
The new company, SIGMA POWER Yamaguchi Corporation, will undertake all essential planning for construction of a coal-fired power plant, including environmental assessments and engineering simulations, and for business development, including sales of electricity. Plans call for a new plant with generating capacity of between 500 and 1,000 megawatts to be constructed in Ube City in Yamaguchi prefecture and to come on line in 2008.
Toshiba, a major presence in Japans thermal power plant industry, will provide the company with technological know-how required for plant planning, construction and maintenance. ORIX will provide financial know-how gained in such areas as leasing, lending and investment banking, and from its experience gained from investing in wind power and other electricity generation projects. The combination of the two companies expertise is expected to lead the way to more cost-efficient power generation.
The Two Companies and Power Generation Business
The company is already installing two 5.7MW gas engine generators at its Keihin Product Operations, in Yokohama, and they are slated to start operation in the spring of 2004. Almost half the power generated will be supplied to retailers.
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