SoftBank, Blackstone apply to form capital tie-ups with TEPCO
Dozens of domestic and foreign firms applied by the end of March as TEPCO looks for partners to fund cleaner power and meet AI-driven data centre demand.
- SoftBank and US investment firm Blackstone are among dozens of companies that have applied for a capital partnership with Tokyo Electric Power Company (TEPCO).
- TEPCO is seeking partners to raise funds to meet the growing power demand from AI data centres and to invest in decarbonising its power sources.
- The utility will now begin a selection process to narrow down the applicants, which a company official stated could take around a year.
Telecommunications carrier SoftBank Corp. and US investment firm Blackstone Inc. are among companies that have applied to form capital tie-ups with Tokyo Electric Power Company Holdings Inc., it was learned Thursday (April 9).
Dozens of domestic and foreign companies are believed to have submitted such applications by the deadline at the end of March. They also include Japan Industrial Partners Inc., an investment fund.
In its restructuring plan released in late January, TEPCO said that it would seek capital partners to capitalise on the growing power demand from data centres in line with the spread of artificial intelligence and to secure funds to invest in decarbonising power sources.
TEPCO will work to narrow down the list of applicants, including through discussions by a committee including outside directors. "It could take around a year," a company official said.
In a statement released Thursday, TEPCO said that it is continuing discussions with partner candidates and will steadily proceed with consideration.
[Copyright The Jiji Press, Ltd.]
