Hokuriku Electric Power (Rikuden, Headquarters: Toyama City, Toyama Prefecture), released its 2030 Long-Term Vision Plan and Medium-Term Management Plan (2020 version) in April 2020. The 2030 Long-Term Vision sets a goal of investing more than 200 billion yen (approximately $1.9 billion[1]) through Fiscal 2030 as part of its growth strategy. Rikuden identified three strategic areas of growth to accelerate investment: 1) supporting the local community through addressing challenges, 2) creating new services through a fusion of existing assets and new technology, and 3) entering overseas power businesses. [2]

As part of its efforts to invest in overseas energy businesses, on April 21, 2020, Rikuden announced its investment in Japan Energy Capital 1 L.P., which targets overseas renewable energy business in Turkey and Jordan as well as energy technology venture companies in Europe and the U.S. It is Rikuden’s first overseas business investment. [3] On April 30, 2020, Rikuden further announced that it will establish Hokuriku Electric Power Business Investment G.K. in June 2020. The subsidiary will focus on accelerating investments in Rikuden’s strategic areas of growth. According to Rikuden, it will continue to cultivate new business opportunities and make investments to accelerate its growth. [4]

[1] ¥ 1 = $ 0.0094 USD. Based on the exchange rate as of May 8th, 2020.

[2] http://www.rikuden.co.jp/press/attach/19042502.pdf

[3] http://www.rikuden.co.jp/press/attach/20042101.pdf

[4] http://www.rikuden.co.jp/press/attach/20043003.pdf