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Eurus and Toyota Tsusho form African IPP Aeolus

RICHARD HEAP

April 8, 2024

Japanese companies Eurus Energy and Toyota Tsusho have formed independent power producer Aeolus in a 50:50 joint venture to develop wind, solar and geothermal projects in Africa.

Toyota Tsusho owns its 50% stake through its wholly-owned African subsidiary CFAO, which works in Africa in the infrastructure, mobility, healthcare and consumer goods sectors.

Tetsuya Suwabe, president and chief executive of Eurus Energy, said forming Aeolus would help build on its track record of developing wind and solar projects in Asia, the Americas and Europe.

“We are committed to delivering affordable, clean energy to the people of Africa and contributing to the creation of a sustainable society, in order to provide a better global environment for the future children of Africa,” he said.

Ichiro Kashitani, president and chief executive of Toyota Tsusho, said: ” look forward to the establishment of Aeolus more organically linking our strengths, thus creating synergies that are unique to the Toyota Tsusho Group. For a bright future for the children of Africa, we will continue to move forward with local communities and partner companies to achieve through our business green economic development, solutions to social issues in Africa, and carbon neutrality.”

Hideharu Toba, president of Aeolus, said: “By bringing together the knowledge and experience of our two companies from different backgrounds, we will work together to contribute to sustainable growth in Africa through renewable energy projects.”

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