Concerning Decision to Take Over Assets, etc. related to Hydroelectric Power Business of Mie Prefecture Public Utilities Agency
July 29, 2011
Chubu Electric Power Co.,Inc.
Chubu Electric Power Company has today (July 29) decided to take over assets, etc. related to the hydroelectric power business of the Mie Prefecture Public Utilities Agency. The company will proceed to conclude an agreement concerning basic items with the prefecture.
Today's decision was taken as a result of deliberations between Chubu Electric and Mie Prefecture concerning basic conditions for transfer and takeover of the hydroelectric power business, following the receipt of an offer from the prefecture concerning the transfer of the business on September 21, 2007.
We will conclude an agreement with the prefecture concerning basic items and will conduct the necessary procedures in accordance with the relevant laws and regulations, looking towards taking over operation of the facilities in stages, on April 01, 2013, April 01, 2014, and April 01, 2015.
Expectations towards renewable energies are increasing, and we believe that in taking over the hydroelectric power business operated by the Mie Prefecture Public Utilities Agency, our operation and maintenance management technologies and integrated management in tandem with downstream power stations will enable us to ensure the efficient operation of these hydroelectric facilities.
We will continue to use our experience in hydroelectric generation and our facility maintenance system to the maximum extent, striving to ensure stable operation of hydroelectric generation as a renewable power source, with safety as our top priority.