NYK to participate in off-grid tidal energy demonstration in Singapore
In accordance with its medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” the NYK Group has been taking steps to create new value through green business. In 2019, NYK participated in Singapore's first tidal power demonstration on the Sentosa Boardwalk, a bridge connecting Singapore Island and Sentosa Island.
This is a tidal energy demonstration in an "off-grid" area that is not connected to the power grid. Unlike wind energy, which is affected by weather conditions, tidal energy uses tidal currents, which are stable in volume and direction throughout the year, making them an extremely efficient renewable energy source featuring a generated amount of power that is easy to predict.
NYK will examine the power generation efficiency, the cost of power generation, and storage.
Bluenergy Solutions, a Singapore Company, is a marine renewable energy solution provider integrating energy generation, storage, and distribution. Bluenergy Solutions’ bi-directional tidal turbine array deployment has the potential to produce one gigawatt hour of energy annually, and its small size makes it possible to be installed in most locations.
NYK launched its NYK GREEN EARTH5 ESG brand in April 2022.
In February 2021, NYK released the “NYK Group ESG Story,” which aims to further integrate ESG into the company’s management strategy and promotes activities that contribute to the achievement of the SDGs through business activities. In March this year, NYK released the updated “NYK Group ESG Story 2022,” which introduces initiatives for integrating ESG into the Group’s management strategies set forth in the "NYK Group ESG Story" and provides a partial explanation of the Group’s sustainable growth strategy from a long-term perspective.
