Society | Jun 30

NTT to enter Japan's renewable energy sector with $9bn investment

NTT will enter the renewable energy market and invest more than 1 trillion yen ($9.3 billion) by 2030 to set up its own transmission network, Nikkei learned on Monday.

NTT hopes to generate 7.5 million kW of electricity, which will be equivalent to 10% of renewable power capacity in Japan, by 2030. Japan had capacity of 61.35 million kW of renewable energy in 2019.

NTT will sell directly to customers, rather than go through another power transmission network.

This will be the first time for a company to enter the nationwide distribution network since the market was liberalized in 2016.

Amid the global move toward greener energy, the entrance of NTT, which has a strong capital base, into the market could change the competitive dynamics.


MORE Society NEWS

Last year saw a record-breaking 1,963 prohibition orders issued in Japan under the Stalking Control Law, marking the highest number to date.

Currently, there's a rapid increase in individuals suffering from "spring fatigue." You might be affected without even realizing it.

The emergence of the Gifu butterfly, a harbinger of spring, has commenced once again this year in Fukuchiyama City, Kyoto Prefecture.

POPULAR NEWS

JAXA has announced the revival of the unmanned explorer "SLIM" following its successful hibernation after making Japan's first moon landing. The probe successfully endured a second lunar night, a period during which temperatures can drop to as low as minus 170 degrees Celsius.

As more people keep pets indoors, there has been a call for caution regarding unexpected pet behavior leading to fire accidents.

Seven-Eleven have extended the expiry date of its hand-rolled onigiri (rice balls), including salmon, plum, kelp, spicy cod roe, and tuna mayonnaise varieties.

The Japanese government finalized a new strategy on Wednesday aimed at the development of next-generation domestic aircraft, including initiatives for eco-friendly aviation technologies.

During a visit to Mie Prefecture, Princess Aiko, the daughter of Emperor Naruhito and Empress Masako, immersed herself in the rich tapestry of Japan's past at a museum within the sacred precincts of Ise Shrine on Wednesday morning.

FOLLOW US