On Monday, Japan’s largest refiner Eneos Holdings Inc. announced its plan to acquire Japan Renewable Energy to grow its low-carbon business.
The deal was at JPY200 billion (USD1.8 billion) for JRE’s 708 MW assets in renewable energy.
After the deal closed, Eneos’ renewable assets will reach 1,220 MW, meeting its target of having more than 1,000 MW of renewables in Japan and abroad by March 2023.
Still, the acquisition would not contribute much to Eneos’s normal annual sales of roughly JPY10 trillion (USD90 billion).
