Toyota Tsusho units establish new JV for renewables in Africa

Aeolus Establishment Ceremony. (from left to right) Tetsunori Murakami (CFO of AEOLUS), Tetsuya Suwabe (CEO of Eurus Energy), Hideharu Toba (CEO of AEOLUS), Tatsuya Hirata (Deputy CEO of CFAO), Richard Bielle (CEO of CFAO). Image by Toyota Tsusho.

Japanese trading company Toyota Tsusho Corp (TYO:8015) has established a new joint venture (JV) between its wholly-owned subsidiaries CFAO SAS and Eurus Energy Holdings Corp to promote renewable projects in Africa.

Named AEOLUS SAS, the JV is based in France and it was created in March 2024, Toyota Tsusho announced today. The idea behind it is to consolidate in stages the group's renewable energy activities on the continent, meaning the AEOLUS will take over the African renewable energy projects that are currently being promoted by the three entities.

The JV is planned to engage in renewable energy IPP operations and in developing renewables like solar and wind power.

CFAO has so far been active in the African mobility, healthcare, consumer and infrastructure markets. Eurus Energy operates wind and solar power projects in 15 countries and regions, including a 263-MW wind park in Egypt.

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