Japanese conglomerate Marubeni Corporation has entered the Taiwanese solar market with the acquisition of Chenya Energy Co Ltd, a solar project developer operating on the island.
Marubeni said Chenya Energy will become a fully-owned subsidiary when the transaction is finalized. No time frame for completion of the deal, or purchase price were disclosed.
“With a net portfolio of investments totaling approximately 270 MW of solar power generation assets, Chenya is one of the leading players among renewable energy developers in Taiwan,” Marubeni said in a statement.
The Chenya portfolio, the Japanese company added, will give Marubeni 950 MW of power generation facilities in Taiwan.
Marubeni, whose operations include oil, gas and nuclear energy trading, is developing two of the largest PV projects in the Middle East: an 800 MW solar plant in Qatar with French utility EDF; and a 500 MW facility in Oman. The company is also active as an independent power producer in markets including Japan and Chile.