According to The Nikkei Asia, Japanese trading house Mitsubishi Corp. is set to increase the share of renewable energy sources in its power generation business from the current 30% to over 60% by its 2030 fiscal year, bringing one of its most important businesses in line with the government's latest efforts to reduce greenhouse gas emissions.
The company will increase investment in solar and wind power at home and abroad, while gradually reducing coal-fired power generation to zero by 2050.
Trading companies handle the electric power business, which ranges from the construction to operation of power plants which are mainly located overseas.
Mitsubishi Corp. has a generating capacity of 10.8m kilowatts, including those under development, when calculated based on its ownership ratio. This is nearly twice the capacity of Shikoku Electric Power.
By fiscal 2030, Mitsubishi Corp. will double the amount of power from renewable energy sources from the levels in fiscal 2019 to 6.6m kilowatts.
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