Home Asia - Pacific Tokyo Gas buys 50 pct stake in Engie’s renewable energy firm in Mexico
Tokyo Gas buys 50 pct stake in Engie’s renewable energy firm in Mexico

Tokyo Gas buys 50 pct stake in Engie’s renewable energy firm in Mexico

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TOKYO:

* Japan’s Tokyo Gas Co Ltd said on Monday it has agreed to buy for an undisclosed sum a 50 percent stake in Engie’s renewable company in Mexico that owns and operates six solar and wind power projects

* The six projects with a total 899 megawatt (MW) power generation capacity were granted 15-year power purchase agreements through Mexican power auctions and will start commercial operation by July 2020, Tokyo Gas said in a statement

* The deal marks the first overseas renewable project for Tokyo Gas, which has set a goal to invest in 600 MW capacity of overseas renewable energy by the end of March 2021, a Tokyo Gas spokesman said

Source: af.reuters

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Anand Gupta Editor - EQ Int'l Media Network