Tokyo Gas to enter woodchip-burning power output
TOKYO
, Aug 11 (Reuters) - Tokyo Gas Co (9531.T: Quote, Profile, Research, Stock Buzz) said on Monday it had acquired a stake in a Japanesebiomass-derived electricity wholesaler, as Japan's largest city gascompany looks for cleaner power sources.
Japan, the world's fifth-biggest emitter of greenhouse gases, hasbeen trying to cut carbon dioxide emissions, blamed for globalwarming, by shifting away from fossil fuels for power generation.
The utility has also signed a 15-year contract to operate from 2010a 13,600 kilowatt woodchip-burning thermal power plant that thewholesaler, Agatsuma Bio Power Co, will start building this monthin Gunma prefecture, north of Tokyo.
Tokyo Gas acquired a 4.44 percent stake in Agatsuma Bio Power, therest of which is owned by Japan's largest general leasing company,Orix Corp (8591.T: Quote, Profile, Research, Stock Buzz).
Japan is under pressure to meet its target under the Kyoto Protocolon climate change, which obligates 37 developed nations to cutemissions by an average 5 percent below 1990 levels by 2008-2012.(Reporting by James Topham; Editing by Hugh Lawson)
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POSTED BY ellieueb AT 8/15/2008 5:34 AM
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