Marubeni Acquires a Solar Power Developer and Operator in Taiwan

PVTIME - Marubeni Corporation (hereinafter, “Marubeni”) has executed a Share Purchase Agreement with I Squared Capital to acquire Chenya Energy Co., Ltd (hereinafter “Chenya”), a solar power developer and operator in Taiwan. Chenya will become a wholly owned subsidiary of Marubeni upon the conclusion of this transaction.

Chenya
is a solar power investor,
developer, contractor and operator in Taiwan. With
a net portfolio of investments
totaling approximately 270MW
of solar power generation assets, Chenya is one
of the leading players among renewable energy developers
in Taiwan.

By
acquiring Chenya and Chenya’s
solar power generation assets,
including one of the world’s
largest floating solar power
plants, Marubeni will gain expertise
in the floating solar power
business and continue to enhance its renewable
energy development capabilities.
Through Chenya, Marubeni plans to expand the
floating solar power business
in Taiwan as well as in other regions.

Marubeni’s portfolio of IPP projects assets exceeds
12.5GW in net generation capacity across 19
countries. In Taiwan, Marubeni has previously made investments in Ever Power gas-fired
combined power plant
project (960MW) and Hsin
Tao gas-fired combined cycle
power plant
project (600MW).
With the addition of Chenya’s solar power generation assets, Marubeni will hold a stake in more than 950MW of power
generation assets within Taiwan, making Marubeni one of the largest
independent power producers in
the country.

In
September of 2018, Marubeni issued the Notification
Regarding Business Policies Pertaining to Sustainability in Relation to Coalfired Power Generation
Business and Renewable Energy Generation Business
(*1). As per this notification, Marubeni will continue
to expand its business activities in the renewable energy power sector throughout the world.

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