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Agreement of joint development of a coal-fired power plant

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World Coal,

Idemitsu Kosan Company, Kyushu Electric Power Company Inc., and Tokyo Gas Co., Ltd. have all agreed to jointly proceed with preparations for the development of a coal-fired power plant. The companies plan to establish a special purpose company (SPC) aiming for May this year to deal with the joint project.

In accord with full liberalisation of the electric power retailing, the three companies have stated that they will make use of the strengths in each company’s value chains to implement a more safe, stable, and competitive electric power supply to meet social demands and expectations as energy companies. Furthermore, the companies have stated that they will do their best with regard to environmental measures and contribute to the regional economy as well.

Adapted from press release by Joseph Green

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