Corporate Information

Press Release (Feb 23,2011)
TEPCO and MC Join Forces in Management of Thai IPP
                                       The Tokyo Electric Power Co., Inc.
                                                   Mitsubishi Corporation

On February 23, The Tokyo Electric Power Co., Inc. (TEPCO) and Mitsubishi 
Corporation (MC) today agreed to a partnership in managing Electricity 
Generating Public Company Limited (EGCO), one of the largest Independent 
Power Producer (IPP) holding companies in Thailand. The joint operations 
of TEPCO and MC will be handled by the latter's wholly-owned subsidiary 
TEPDIA Generating B.V. (TEPDIA).

MC currently owns 11.21% (59,011,803 shares) of EGCO through its joint 
venture with CLP Holdings, Ltd. (CLP), Hong Kong's largest electric 
utilities company. Through TEPDIA, MC has agreed to acquire CLP's indirect 
interest in EGCO, amounting to an additional 13.36% (70,354,375 shares 
worth approximately 23 billion JPY). At the same time, TEPCO will purchase 
50% of TEPDIA's shares, and assume equity interest in this partnership of 
approximately 21 billion JPY.

The TEPDIA agreement establishes TEPCO and MC as indirect shareholders of 
EGCO, with each of the partners holding a 12.286% interest (64,683,089 
shares). The share purchase process through TEPDIA is expected to be 
completed in the first half of April this year, paving the way for TEPCO 
and MC to participate jointly in EGCO's management. 

Utilizing its technical expertise and Operation and Maintenance (O&M) know-
how, TEPCO aims to promote further development of Thailand's electricity 
sector. The company is hoping to leverage the strengths of its "2020 
Vision", a plan that prioritizes overseas business to stimulate future 
core growth. This should result in increased profitability and an enhanced 
business portfolio, and more importantly, allow the TEPCO Group to make a 
global impact in the creation of low-carbon societies.

MC has been involved in EGCO's management since 2006, and hopes to continue 
playing a valuable role in the development of electricity sectors, in both 
Thailand and its neighboring countries. To this end, MC has established 
Diamond Generating Asia, Limited (DGA), a subsidiary that manages IPP 
projects in Southeast Asia and Taiwan. Through DGA, MC is presently 
developing IPP projects in Vietnam, Indonesia, and other countries in the 

Appendix(PDF 27.4KB)

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