Honolulu, September 20, 2018 – Adon group (Adon) announced that TEPCO Ventures has made an equity investment in the Hawaii renewable energy company through TEPCO Innovation & Investments US, Inc., TEPCO Ventures’ wholly owned subsidiary in the US. TEPCO is the largest electric utility in Japan and the 4th largest electric utility in the world
Adon is a developer of renewable solar energy projects in Hawaii and the Philippines and engaged in the development, construction, operation and maintenance, and asset management of solar facilities mainly for commercial and industrial (C&I) customers since 2007. Adon provides Power Purchase Agreements (PPA) with solar and advanced battery storage systems to maximize customer benefits in Hawaii.
Michael M. Chen, president of the Adon Group, said, “Our vision is to decentralize electricity delivery by offering environmentally friendly, customized and innovative renewable energy solutions globally.”
TEPCO Ventures looks forward to creating additional innovative business opportunities overseas and accelerate the transformation of the energy industry and the evolution of its businesses with advanced and environmentally friendly technology. President of TEPCO Ventures, Shinji Akatsuka said, “TEPCO Ventures looks forward to creating additional innovative business opportunities overseas with reliable strategic business partners”
About Adon Group
Adon Construction Inc, Adon Renewables Corporation, and Green Vision LLC (“Adon Group”) is a developer of renewable energy products and projects in Hawaii and the Philippines headquartered in Kaneohe, Hawaii. Adon Group designs and integrates large scale commercial and industrial battery storage systems in conjunction with its renewable energy generation facilities. Additionally, Adon Group is the exclusive distributor of the Sun Chiller hybrid multizone air conditioners, creating solar air conditioning with utility backup for hotels, commercial warehouses and offices, and multifamily dwellings.
Tokyo Electric Power Company Holdings, Inc. (TSE: 9501), headquartered in Tokyo, Japan, is the largest utility in Japan serving millions of homes and businesses. Worldwide the company has more than 34 subsidiaries and 32 affiliates in 8 countries and employs approximately 42,060 people. Consolidated revenue for the fiscal year ending March 31, 2017, totaled 5.3 trillion Japanese yen. The company was established in 1951 and is listed on the First Section of the Tokyo Stock Exchange.