Eneos to buy Japan Renewable Energy for US$1.8bn

ENEOS Corporation has decided to acquire the entire issued shares of Japan Renewable Energy Corporation (JRE), indirectly owned by the Infrastructure business within Goldman Sachs Asset Management. Following the completion of the transaction, planned for late January 2022, JRE will become a wholly-owned subsidiary of ENEOS.

JRE was established by Goldman Sachs in 2012 and has built up its renewable asset base across the nation, diversified in solar, onshore wind, and biomass. As of the end of September 2021, JRE owns generation assets in operation or under construction of 877,101 kW capacity (419,185 kW in operation and 457,915 kW under construction based on gross capacity).