Tokyo: Nicosia has learned that Japanese oil producer Enos Holdings is preparing to acquire more than 200 billion yen ($ 1.7 billion) in renewable energy from Tokyo-based Japan.
Ines buys all shares from start-up owners, US Goldman Sachs and Singapore Sovereignty Fund GIC. The oil company is swinging details with Goldman and plans to announce it early next week.
This will be the first major signature of a large renewable energy company by an established Japanese wholesale distributor.
“We have not made any decision on the purchase,” said Inois spokesman. We are considering different options for expanding our renewable energy. ”
A.D. Established in 2012, Jerry focuses on solar, wind, and biomass operations. There are about 60 such plants in Japan and Taiwan.
The company’s overall output so far is 880,000 kWh, including power plants comparable to the average nuclear power plant.
The startup is a subsidiary of Goldman and GIC. Enos subtitles JRE.
According to Tokyo Shoko research, the JRE grossed 3.6 billion yen and net profit of 678 million yen by 2020.
In order to accelerate the distance from the oil-dependent business model, Inos invests huge sums of money in the purchase. He uses JRE’s professionalism in the Coast Guard, and assumes the rights and benefits that come with the business.
The Government of Japan By 2040, a 45-watt wind turbine has been targeted. Coastal wind farming is crucial to the country’s bid to make renewable energy a major source of energy.
Wind speeds are stronger and tend to be higher than the coast. Considering Japan as an island, the development of naval wind farms is important to increase renewable energy supplies.
However, the government should designate areas to promote overseas wind farms, and negotiations with local fishermen appear to be taking time. As a result, the country has virtually no commercial wind farms.
JAR has begun developing coastal wind turbines in states such as Nagasaki and Akita. He plans to expand to the northern Japanese island of Hokkaido. With Goldman Investments, JRE is making its first start in the offshore wind farm business by 2030.
Ines believes the acquisition of the JRE will help the oil giant to enter the market faster and develop its own marine wind power.
A number of local and foreign companies have approached the JRE with procurement supplies. In some cases, negotiations have taken place. Goldman seems to have made the final decision after considering how much Enos is willing to pay and the possible relationship between Enos and JAR.
The oil company has invested 400 billion yen in its mid-term business plan by 400 March 2023. Jerry’s purchase is about half the price.
In June, Enos announced that it would spend 300 billion yen in corporate bonds to boost investment, especially in the face of declining domestic oil demand.
As the world shifts to decarbonation, the company will use JRE’s findings to accelerate its transition to renewable energy and prepare for a major competitive era.
Joining and acquiring renewable energy companies is on the rise.
A.D. In 2020, Chubu Electric Power and Commercial Mitsubishi Corporation bought Dutch energy company Enekon for 500 billion yen. Japanese landlord Oriks has decided to buy Spain’s Elawan Energy for 100 billion yen.