TEPCO steps onto world stage with DEEP C buy-in
December 3, 2018
During the signing ceremony held last week at the Belgian embassy in Tokyo, Tepco Power Grid (TEPCO) officially became a shareholder in DEEP C Green Energy (DCGE), a company established under the DEEP C Industrial Zones umbrella.
TEPCO had recently expressed ambitions to expand its power grid business for the first time outside of Japan. The partnership with DEEP C in Vietnam marks the first milestone under expansion overseas. The company, founded in Tokyo in 1951, will put its experience to good use in enhancing power infrastructure standards, improving operation efficiencies and installation of renewable energy farms. Ultimately the partnership between DEEP C and TEPCO aims to improve service, operational efficiency and reliability even further.
Since 1997, DEEP C has been successfully developing 3,400 hectares of state-of-the-art industrial parks and ready-built-factories in Haiphong and the neighbouring province of Quang Ninh. Two years ago, pushed by the mission of providing tenants with highly reliable and stable power, DEEP C saw the need to establish a company focusing solely on power and thus created DCGE. In addition to distribution power to tenants within the various industrial parks, DCGE started exploring new ventures in producing its own electricity from wind, solar and waste-to-energy.
Tenants in the DEEP C Industrial Zones cluster benefit from various advantages, in particular the strategic location being adjacent to the deepwater port of Lach Huyen and directly connected to the new highway network. It also takes advantage of the best tax package commonly available in Vietnam, and reliable utility provisions such as power, water, waste water and telecoms. These factors help make it an ideal investment location for companies form various sectors such as automotive, petrochemical, the supporting industries and logistics. To date the DEEP C cluster is home to more than 90 international projects with the likes of Japan’s Bridgestone, Chevron from the US, Knauf from Germany, and South Korea’s Pyeong Hwa Automotive.