NTT to spend 600 billion yen on own grids for power business

12/11/2019 10:25 Electricity Market

news

Nippon Telegraph and Telephone has decided to build its own power grids. Japan's largest telecom company plans, beginning in the year ending March 2021, to sell electricity from storage batteries at its roughly 7,300 office buildings around the country, mainly to hospitals and factories.

NTT, which also aims to also develop a proprietary power source, aims to capture demand for backup power.

 

It plans to spend around 600 billion yen ($5.5 billion) on the project, which is designed to increase the sales of NTT's power supplier. The new business could help ease the shortage of capacity in power grids that has been a bottleneck to the supply of renewable energy.

 

NTT's plan to build its own separate grids could reduce the risk of blackouts during disasters by disbursing equipment.

 

NTT hopes to double revenue at its power business, which has reached around 300 billion yen, by the end of March 2026, by meeting a range of customer demand.

Source: heraldscotland.com

Daily (07.07.2020): The German Cal’21 power climbed to a 20-week high on Monday, keeping the pace with EUAs above 30 Eur

07/07/2020 11:11:00

Crude oil futures edged higher on Monday, supported by a string of data showing an economic recovery across the globe and amid improving OPEC+ compliance. However, oil continued to be pressured by the surging coronavirus cases. Hence, Brent crude from September delivery rose by 0.7%, or 30 cents, to settle at $43.10 a barrel. At the same time, U.S. WTI crude settled at $40.63 a barrel, up 1% day-on-day.

<READ MORE

Equinor leads clean hydrogen plus CCS project in UK

07/07/2020 09:45:00

Norwegian state-controlled energy company Equinor ASA last week announced it is leading a project in the UK that combines hydrogen production and carbon capture and storage (CCS).

READ MORE

Enagas and BP partner on LNG, CNG as fuel in Spain

07/07/2020 09:36:00

Enagas and a unit of BP have teamed up to promote the use of LNG and CNG as fuel for the transport sector in Spain as part of a move to reduce emissions.

READ MORE