Tepco to sell stake in wind unit to compensate nuke victims

TEPCO is likely to sell a 20 percent stake in wind power developer Eurus Energy Holdings to trading firm Toyota Tsusho to help raise funds to compensate victims of Japan's nuclear crisis, states a Reuters report quoting the Nikkei newspaper.

The owner of the crippled Fukushima Daiichi nuclear plant is expected to sell the stake for a little less than 20 billion yen or $262 million and post a profit of about 10 billion, which will be used for compensation.

It last month began accepting victims' applications for compensation, but the troubled utility needs to find funds to foot the cost and is seeking help from a taxpayer-funded bailout body.

Tepco is preparing an extraordinary operating plan, likely to include asset sales, cost cuts and other restructuring measures, and get government approval before receiving bailout funds.