Mitsui offloads its entire share in C2C Power LP

Mitsui & Co., Ltd. has entered into an agreement with Axium Infrastructure, to sell its entire interest (30%) in C2C Power LP, which has operated 12 assets of wind and solar power generation portfolio in Canada.

Axium and Mitsui are existing partners of C2C Power LP through each of its affiliate, together with Engie Canada Inc. Mitsui has invested in C2C Power LP through its investment company MIT Renewables Inc., which executed a purchase and sale agreement with a new limited partnership led by Axium.

C2C Power LP's enterprise value is approximately CAD1.9 billion (US$1.46 billion).

The transaction will be effective after relevant regulatory approval and a process under existing shareholders' agreement in relation to first refusal right, which are expected to be completed by the end of March 2020.