[Japan] Tokyo Gas Invested in Floating Wind Power Company Principle Power

Tokyo Gas (Headquarters: Tokyo[1]) announced on May 27, 2020, that it has invested more than 2 billion yen (approximately $18 million)[2] in Principle Power (Headquarters: Emeryville, California, U.S.), a wind power technology developer that owns the WindFloat technology. With its investment, Tokyo Gas has become one of Principle Power’s major shareholders.

WindFloat is a patented technology owned by Principle Power. It is a floating foundation for offshore wind turbines. The technology has achieved high stability in various aquatic environments and is expected to be widely adopted by floating offshore wind projects around the world in the future. It has already been used in some large wind turbine projects in Europe. The introduction of WindFloat technology is expected to drive the implementation of floating offshore wind turbines in Japan, where the availability of shallow seabeds is limited.

Tokyo Gas has been investing in renewable energy sources in Japan and overseas to achieve net-zero CO2 emissions. According to its management vision, Compass 2030, it aims to reach 5GW of renewable power generation capacity by 2030. Investment in Principle Power’s technology is expected to further accelerate this effort.

Takeshi Uchida, President of Tokyo Gas, said, “Our company is working to build up renewable energy sources inside and outside of Japan in order to achieve net-zero CO2 emissions as set forth in our Group Management Vision, “Compass 2030.” Principle Power, with its advanced technology and proven track record in the field of floating offshore wind, which is expected to grow in Europe and in Asia, is an ideal partner for Tokyo Gas, and this investment will give us a good start in promoting floating-type wind power generation projects in Japan and in other parts of the world.” [3] [4]


[1] https://www.tokyo-gas.co.jp/en/aboutus/profile.html

[2] ¥ 1 = $ 0.0092 USD. Based on the exchange rate as of June 4, 2020.

[3] https://www.tokyo-gas.co.jp/Press/20200527-01.html

[4] https://www.tokyo-gas.co.jp/Press_e/20200527-01e.pdf