Africa has a great potential for renewable energy infrastructure and with the right planning and implementation it could thrive. Following this, Toyota Tsusho CFAO and Eurus’s Joint Venture for Renewables in Africa is aiming for the same. They are planning to establish green energy businesses that will take the nation towards sustainable economic growth.
Toyota Tsusho Corporation entered a joint venture with Eurus Energy to promote renewable energy in Africa. This new venture’s 50% will be held by Toyota.
Eurus Energy deals in solar and wind power projects in 15 regions and countries. They are one of the largest wind power producers in Japan and has expertise in all aspects of renewable energy business.
To make business promotion more flexible and efficient, Toyota Tsusho has established AEOLUS. This will jointly integrate the expertise of Eurus and CFAO.
Objective
Toyota Tsusho is actively promoting “Renewable Energy and Energy Management”, through infrastructure projects for expanding renewables in Africa. It not only includes solar but geothermal and wind power generation too.
Future Plans after Toyota Tsusho CFAO and Eurus’s Joint Venture
- The projects consolidate into stages in AEOLUS.
- It will engage in renewable energy independent power producer (IPP) business in Africa to develop and expand clean energy power sources.
- AEOLUS will also contribute to sustainable economic growth in Africa through its projects and developing new businesses.
- Toyota Tsusho Group under the key message, for the future children of Africa, will continue promoting green businesses. This way they aim to solve social issues and improve economic growth in the country.
President & CEO of Toyota Tsusho, Ichiro Kashitani added in this regard, “We look forward to the establishment of Aeolus more organically linking our strengths, thus creating synergies that are unique to the Toyota Tsusho Group. For a bright future for the children of Africa, we will continue to move forward with local communities and partner companies to achieve through our business green economic development, solutions to social issues in Africa, and carbon neutrality. “
President and CEO of Eurus Energy, Tetsuya Suwabe said, “We are committed to delivering affordable, clean energy to the people of Africa and contributing to the creation of a sustainable society, in order to provide a better global environment for the future children of Africa.”
Further for Toyota Tsusho CFAO and Eurus’s Joint Venture for Renewables in Africa, Richard Bielle, Chairman and CEO of CFAO Group, added, “We will harness CFAO’s strengths to the fullest, and together with Eurus Energy, accelerate renewable energy business in Africa to contribute to sustainable economic growth in Africa. “
Source: New joint venture established for renewable energy in Africa
