Eneos acquires Japan Renewable Energy

Eneos Holdings said it will acquire the entire issued shares of Japan Renewable Energy Corporation, a company indirectly owned by the Infrastructure business within Goldman Sachs asset management, for about about 200 billion yen ($1.8 billion).

"Eneos aims to become a leading renewable energy company in Japan by combining JRE’s development capabilities in the renewable energy business with expertise that ENEOS has accumulated as an energy company," said the company in a statement on Monday.

The holding company said that it wants to achieve carbon neutrality in its own CO2 emissions in 2040 to contribute to the development of a decarbonised, recycling-oriented society. Therefore, they will expand their total renewable power generation capacity to over 1,000,000 kW in Japan and overseas by the end of FY2022, the final year of the 3- year “Second Medium-Term Management Plan,” and further expand the capacity thereafter.