Tokyo Electric Power Co. plans to sell some of its shares in a wind power development subsidiary to raise funds to help pay compensation for damage caused by the crisis at its Fukushima No. 1 nuclear power plant, it has been learned.
TEPCO will lower its equity holding in Eurus Energy Holdings Corp. from the current 60 percent to about 40 percent by selling stock.
Proceeds from the stock sales are expected to total about 10 billion yen.
The utility has been preparing to sell its holdings in real estate and housing businesses that are unrelated to electricity generation. But this will be the first time for TEPCO to sell its energy-related shares, sources said Saturday.
Continue reading at TEPCO to sell shares in wind power firm