ENEOS to transfer domestic renewable businesses to JRE
The transfer will be effective on 1 April.
ENEOS Corporation will be transferring its domestic solar, onshore and offshore wind power to Japan Renewable Energy following an agreement on an absorption-type company split in the renewable energy business.
In a statement, the business integration which will take effect on 1 April brings JRE’s total renewable power generation capacity in operation and under construction locally and overseas to around one million kilowatts.
ENEOS, meanwhile will combine its assets and JRE’s expertise and human resources and promote efficient development and operation to develop the ENEOS Group’s renewable energy business into a core business in the next-generation business.
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They said that ENEOS will still hold the other renewable energy business such as biomass and those overseas.
ENEOS acquired all of JRE’s issued shares in January 2022.