Japan’s Mitsui OSK, others to buy 25% stake in Taiwan’s Formosa-1 wind farm – EQ Mag Pro
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TOKYO : Japan’s Mitsui OSK Lines 9104.T, Toho Gas 9533.T and Hokuriku Electric Power 9505.T will buy a stake of 25% in Formosa International Investment from Australia’s Macquarie Group MQG.AX to enter Taiwan’s offshore wind power business.
The Japanese firms said the deal takes them into the overseas offshore wind power market, with the aim of gathering industry knowledge to help expand their renewable energy business. They did not disclose the terms.
Formosa International Investment fully owns an operator of the 128-MegaWatt (MW) Formosa 1 offshore wind power farm, Taiwan’s first of commercial size.
The three firms will form a special purpose company in Taiwan for the deal, with Mitsui OSK and Toho Gas holding stakes of 37.5% each, while Hokuriku will have 25%.
The deal is expected to be completed after complying with necessary procedures, including approvals from Taiwan authorities.
Source: nasdaq
