On April 3, 2020, Chubu Electric Power (Chuden, Headquarters: Nagoya City, Aichi Prefecture), Toyota Motor (Toyota, Headquarters: Toyota City), and Toyota Tsusho (Headquarters: Nagoya City) announced that they had reached an agreement to establish Toyota Green Energy, which aims to obtain and operate Japanese renewable energy sources for the Toyota Group in the future. Chuden owns 40 percent of shares of Toyota Green Energy, and Toyota Motor owns 50 percent of shares of it. The establishment of Toyota Green Energy is expected in July 2020.

Based on the Toyota Environmental Challenge 2050, Toyota plans to create a society in which people, cars, and nature coexist by making the environmental impact of cars closer to zero, and by making a positive impact on the earth and society. Through Toyota Green Energy, Toyota will contribute to the realization of a low-carbon society by reducing the CO2 emitted from plants and other facilities.

Chuden has been working to expand the use of renewable energy, with the aim of deepening Environmental, Social, and Governance (ESG) management and contributing to the resolution of issues identified by the United Nations (UN) in the Sustainable Development Goals (SDGs). By partnering with Toyota, it will strive to improve Japan's energy self-sufficiency rate and reduce CO2 emissions.[1]

[1] https://www.chuden.co.jp/publicity/press/1201128_3273.html