INPEX strengthening geothermal and solar PV business
Japanese INPEX Corp is restructuring, creating a Renewable Energy & Power Business Unit, thereby strengthening its geothermal and solar PV business.
Japanese INPEX Corp. announced today that in line with the company’s pursuit of the three growth targets(*) outlined in its Medium- to Long-Term Vision formulated in 2012, it will establish the Renewable Energy & Power Business Unit effective October 1, 2017 to steadily and flexibly carry out the company’s renewable energy initiatives.
INPEX is currently engaged in geothermal and photovoltaic power generation projects, technological development concerning a variety of renewable energies and studies on other power generation businesses through the New Business Planning Unit, a subdivision of the Corporate Strategy & Planning Division. In order to further strengthen these business initiatives from a medium- to long-term perspective and proactively pursue business development opportunities, the company will re- establish the existing New Business Planning Unit as a new and independent organization, renaming it the Renewable Energy & Power Business Unit.
INPEX owns a 37% interest in the 330 MW Sarulla geothermal project in Indonesia, as we reported in 2015.