GE - Toshiba GE to build wind turbine supply chain in Japan - report

2023-07-17 08:32:43 ET

Toshiba ( OTCPK:TOSYY ) is planning to build a supply chain for offshore wind turbines in Japan with General Electric ( GE ), aiming to establish a network of 100 suppliers, according to a Nikkei report .

The partners will aid component development and other production processes. The suppliers in the network will comprise smaller businesses from cities like Akita that are well-suited for offshore wind energy.

Toshiba ( OTCPK:TOSYY ) is targeting 2026 for domestic production of wind turbines. The Japanese government is looking at installing up to 10 GW of offshore wind capacity by 2030, and up to 45 GW by 2040.

Informational sessions will be held in areas that the government has designated for promoting wind power, including Akita and Niigata. Companies capable of supplying nacelle components will be selected, with procurement expected to start in 2025.

Previously, Toshiba and GE worked together on gas turbine power systems in 2011.

Earlier, Toshiba accepted a $15B buyout offer from a Japanese group.

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