Japan’s Toyota Tsusho Corporation has established a new subsidiary company called Aeolus focused on developing renewable energy projects in Africa.

Created in mid-March, Aeolus is based in France and has a capital stock of €15 million (US$16.1 million).

Aeolus is 50:50 joint venture of France-based CFAO Group and Eurus Energy Holdings Corporation, both wholly-owned subsidiaries of Toyota Tsusho.

Toyota Tsusho is actively pursuing renewable energy projects in Africa, including solar, wind and geothermal power generation and Aeolus has been established to combine the expertise of CFAO and Eurus Energy.

CFAO has a long history in Africa in the fields of infrastructure, mobility, healthcare and consumer goods, while Eurus Energy operates wind and solar power projects in 15 countries and regions, including the 263MW Gulf of Suez wind farm in Egypt, which it partly owns and operates with Toyota Tsusho. The pair are also in a consortium developing a 504MW wind project in Egypt's Gulf of El-Zayt, due to be completed in August 2025.

The renewable energy projects in Africa currently being promoted by the three entities will be consolidated in stages into Aeolus, which will take over the projects. Following this, Aeolus will engage in renewable energy independent power producer (IPP) business on the continent and will develop and expand clean energy sources such as solar and wind.

“Toyota Tsusho group members CFAO and Eurus Energy both have, when including their predecessors, a long history and wealth of knowledge in doing business in Africa dating back to 1852 and in the renewable energy business going back to the 1980s," said Ichiro Kashitani, president and CEO of Toyota Tsusho. "We look forward to the establishment of Aeolus more organically linking our strengths, thus creating synergies that are unique to the Toyota Tsusho Group.”