Etrion Sheds 47.2-MW Solar Portfolio in Japan
Independent power producer Etrion Corp (TSE:ETX) today said it has offloaded its shareholding in a 47.2-MW portfolio of solar parks in Japan to a domestic consortium.
The deal, with a gross value of JPY 8.25 billion (USD 74.7m/EUR 62.9m), concerns Etrion’s 13.2 MW-Komatsu, 24.7-MW Shizukuishi and 9.3-MW Mito photovoltaic (PV) farms, the given capacity of which is in direct current (DC).
The assets were purchased by a tie-up of companies owned by Development Bank of Japan Inc, Kansai Electric Power Co Inc and Osaka Gas Co Ltd, the seller said in a press statement.
This spring, Etrion announced it would sell all or almost all of its solar holdings in Japan and last month received shareholders’ nod to move forward with the asset sales.
Funds from those disposals will enable Etrion to implement its return of capital plan to shareholders, due to occur by the end of July.
The power producer expects to close the sale of its last Japanese asset, the 9.3-MW Misawa project, in the coming weeks. At the end of May, it finalised the sale of its 45-MW Niigata solar park that is under construction in Niigata prefecture.
(JPY 100 = USD 0.905/EUR 0.762)
Source: renewablesnow
