Global expansion of renewable energy development
Sustainable management via diversification of business risks
Wind power generation requires a long-term business strategy, from the initial site evaluations and wind measurement surveys to the construction, and also including the operations and maintenance through the lifespan of projects. Eurus is a company that is consistently engaged in the three phases of the business: project development, construction, and long-term operation of power plants.
Eurus’ capability as a global business is made possible and supported by a joint-venture between Toyota Tsusho, a Japanese “sogo shosha” (general trading company), and Tokyo Electric Power Company.
Toyota Tsusho, via its worldwide commercial relationship network, and Tokyo Electric Power Company, via its historical experience with power plant construction and operation technologies, both apply their respective advantages to support Eurus’ global efforts and pursuit of success.
Currently, Eurus maintains operations in 15 countries, with a current concentration within the U.S., Europe, and Asia-Pacific regions.
In recent years, we have been expanding our business domain not only in the Northern Hemisphere but also in the Southern Hemisphere, while taking advantage of the global network that only Toyota Tsusho's general trading company can offer. We are aggressively expanding our business into new regions while leveraging our experience in existing markets and anticipating market trends.
The decentralization of our ownership of power generation facilities across the globe serves to mitigate environmental risks including those posed by climate change, as well as country-by-country economic risks, such as changes in energy policies and electricity pricing. With this in mind, Eurus is working to stabilize its overall corporate management and portfolio development by the diversification of business risks.
Contributing to the widespread adoption and market expansion of renewable energy worldwide
In 2008, Eurus entered the solar power generation business, with an inaugural project located in South Korea. Since that time, we have built solar projects in the United States, Japan, and Chile. Building on our successes in the construction of both wind and solar projects throughout various international markets, Eurus will begin operations of a hybrid renewable power facility located in Australia that combines wind, solar, and battery power.
In the past, countries with fewer domestic reserves of energy such as coal and oil were challenged by a low degree of energy self-sufficiency. In order to continue economic growth, these countries typically needed to either rely on other regions’ power generation resources or face higher energy prices. With the expansion of renewable energy, many of these previously energy-insecure countries are now capable of efficiently produce power within their own borders, using clean, domestic resources such as wind and solar generation.
We take pride in helping make long-term investments in rural and depressed regions, suppling clean energy across multiple international markets, and promoting industrial development through a variety of business areas.
Over 100 projects developing worldwide in 15 countries on five separate continents.
Eurus’ wind power generation business, which was originally launched in California, USA with a capacity of 50 MW, has grown to 2,970 MW worldwide as of March 2022. Including our solar power facilities, Eurus’ total power generation capacity is 1,280 MW in Asia Pacific (including Japan), 570 MW in the U.S., 1,200 MW in Europe, 260 MW in Africa, combining to a worldwide total of 3,310MW. Currently, Eurus has 104 power plants in operation and 17 projects under construction.
In Japan, Eurus owns 41 power generation facilities across 16 prefectures, from Hokkaido in the north to Kagoshima in the south. Of these projects, 32 are wind power plants, with a total power generation of 790 MW that comprises the largest share of any market participant in Japan.
Wind power generation is a business requiring reliable and safe project operations for an extended period of time (20 years or more). With this timeline, it is not uncommon for Eurus to maintain relationships with people living in the area of our wind projects from the development phase and all the way through operations – 30 years or more. In addition to our focus on global environmental stewardship, Eurus also aims to develop projects that operate in harmony with local residents.
For example, in Japan, Eurus has dedicated local employees living near each of our operating power plants in order to be most responsive to the potential concerns of local residents. In addition to our local presence, we often hold on-site classes and site tours for school-age children to deepen their understanding of electrical generation technology and the renewable energy businesses. One of the most encouraging things for us is when we receive letters from students saying, "When I grow up, I want to work in renewable energy."
In addition to educational opportunities, we often invite local residents to “open house” type events that serve as a briefing on our business and a review of the local project’s track record. Through these and other activities, we are deepening our relationship with the local community.
The accumulation of public trust based on this approach has resulted in Eurus building over 100 projects across 15 countries.
Explore the possibility of renewable energy
Taking on the challenge of future new businesses
Instead of taking an approach that focuses on simply adding to our operational portfolio, Eurus maintains a “quality over quantity” philosophy in our business development. The experience we have gained over 30 years as one of the pioneers in the renewable energy industry makes this possible, and it is a major advantage supporting our business goals.
We have begun looking at a new focus being addressed by the energy sector as well. That is selling clean energy in different forms other than electricity.
As we have for over 30 years, Eurus continues to generate and deliver electricity to our customers (typically power companies) or via specific retail sales. This effort involves selling electricity as electricity. However, grid constraints – such as restriction of new development, curtailment, etc – sometimes interfere with such traditional sales of electricity. In order to turn these occasional difficulties into opportunities, Eurus is actively developing models for selling electricity in other forms. For example, excess power generated by our power plants can be used to create hydrogen, or utilized to run a computer to provide computational power.
Beyond that, there is the opportunity of demand creation. In other words, we believe that it is possible to use the electricity we produce to support completely separate businesses.
For example, one model we are exploring is the construction of small scale wind projects in regions with isolated/unreliable electrical infrastructure, built with associated battery storage to stably supply power to the community via a decentralized micro-grid. While large-scale thermal power plants are not appropriate or economical for these applications, such small scale models hold promise for improving living conditions in remote areas via the creation of new demand. This could, in turn, positively impact rural economic development. The same model may also support collaboration with other industries interested in establishing businesses in currently isolated areas.
Eurus intends to maintain its ability to respond swiftly to changing markets, remain aware of society’s needs, and protect the environment, all with the necessary level of business flexibility.
Leading others toward the realization of a sustainable society by consideration of the earth’s future.
At the same time, Eurus believes that it is inevitable that a clean energy society, independent of fossil fuels, will emerge and result in the realization of a truly sustainable society. In line with this, the concept of a smart cities – fully fueled by renewable energy – has already attracted attention around the world as a goal of developing next-generation communities that coexist in harmony with the environment.
The entire world needs to collectively accelerate its efforts to promote this concept going forward into the future. As a leading company in clean energy, the Eurus Energy Group intends to lead the world's sustainable society and smart city concept.