Sale of Interest in Business Conducting Diversified Investment in Existing Power Stations in North America
January 11, 2012
Chubu Electric Power Co.,Inc.
Since 2004, when Chubu Electric Power established Tyr Capital, LLC jointly with Tyr Energy, Inc., a US subsidiary of Itochu Corporation, it has engaged in projects conducting diversified investment in multiple existing power stations in North America. (Previously announced on December 27, 2004 and May 29, 2006.)
This is to announce that Chubu Electric Power has sold its interest in Tyr Capital to Tyr Energy.
To ensure sustainable growth in the future, we aim to increase revenues by using know-how learned from this business arrangement to continue advancing our overseas businesses.
We will additionally aim to strengthen the foundation of our business by enhancing our technological expertise and brand strength through our overseas businesses to further enhance our domestic energy services.