Tokyo Gas to spend Y2 trln on clean energy to double profit by 2030

A dove flies over solar panels at a solar power field in Kawasaki, near Tokyo June 13, 2012. REUTERS/Toru Hanai/File PhotoRegister now for FREE unlimited access to reuters.comRegisterTOKYO, Nov 26 (Reuters) – Japanese city gas distributor Tokyo Gas Co Ltd (9531.T) said on Friday it will spend 2 trillion yen ($17.5 billion) on cleaner fuels, such as hydrogen, and renewable power with the aim of doubling its profit to 200 billion yen by 2030.”We need to accelerate our actions in the face of a growing global trend toward decarbonisation,” Tokyo Gas President Takashi Uchida told a news conference.”We will begin benefitting from our planned investments in the later 2020s and aim to achieve 200 billion yen profit in 2030,” he said.Register now for FREE unlimited access to reuters.comRegisterTokyo Gas’s estimated profit – operating profit plus profit from its shareholdings – for this…

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