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Tokyo Gas acquires two wind projects in Finland via its European subsidiary

Tokyo Gas, through TOWII Renewables, a joint venture with EWII, purchases two onshore wind projects developed by Finnish company Puhuri, totalling 74.4 MW, marking its expansion beyond the Danish market.

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Tokyo Gas Co., Ltd. (Tokyo Gas), a Japanese company active in the energy market, announced the acquisition, through its European subsidiary TOWII Renewables A/S (TOWII Renewables), of two onshore wind projects in Finland from the local company Puhuri Oy (Puhuri). This operation represents TOWII Renewables’ first foray outside Denmark, thus expanding its activities into the Nordic markets.

Two wind projects totalling 74.4 MW

The acquired projects, Kopsa III and Ketunperä, located in Raahe, in the North Ostrobothnia region, involve the installation of a total of 12 wind turbines, each with a capacity of 6.2 megawatts (MW), for an overall installed capacity of 74.4 MW. The start of commercial operations is scheduled for the first half of 2027.

The Finnish government plans a significant increase in renewable energy capacities to achieve a target of a 51% share of renewables in final energy consumption by 2030. In this context, the acquisition made by Tokyo Gas takes place within a market with high potential and in full growth.

A collaboration between Japanese and Danish companies

The transaction was carried out through TOWII Renewables, established in March 2022, a joint venture equally owned by TG Nordic ApS (TG Nordic), a wholly-owned subsidiary of Tokyo Gas, and the Danish utility company EWII S/I (EWII). TG Nordic, headquartered in Vejle, Denmark, serves as the Japanese group’s European investment vehicle.

Puhuri Oy, established in 2010, specialises in the development, management, and operation of wind energy projects in Finland. It is owned by several Nordic energy groups including Katternö Group, Suomen Voima Oy, Valkeakosken Energia Oy and Ålands Elandelslag Oy.

A strategy aligned with the Compass 2030 vision

Tokyo Gas includes these acquisitions within its “Compass 2030” strategy, whose central objective is to achieve carbon neutrality. Through this initiative, the company aims to strengthen commercial partnerships and international presence in the renewable energy sector, while maintaining rigorous management of invested capital.

TOWII Renewables, led by Oliver Wolgast, will continue to target renewable energy projects in the Nordic region, consistent with its initial mission defined at its creation. Tokyo Gas, chaired by Shinichi Sasayama, thus strengthens its presence in the European market, a strategic sector in its international development.

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