Infroneer to buy Japan Wind Development from Bain Capital for $1.37 bln - Nikkei (updated)

Infroneer Holdings

11/12/2023 22:57

(Adds Nikkei report details from paragraph 2)
       Dec 12 (Reuters) - Japan's Infroneer Holdings  5076.T 
has planned to buy wind power company Japan Wind Development
from U.S. private equity firm Bain Capital for about 200 billion
yen ($1.37 billion), Nikkei Asia reported on Tuesday. 
    The deal will provide the civil engineering group an avenue
to expand its construction and maintenance business in the wind
power sector, according to the Nikkei, as the country looks to
reduce carbon emissions.
        Infroneer has said it would focus on the renewable
energy market as part of its medium-term business plan ending
fiscal 2024, according to the Nikkei report.
  
        The company has developed an onshore wind farm in
northern Japan's Akita prefecture and sold the project to an
investment fund in 2022, the Nikkei reported.
  
        Infroneer could not be immediately reached for comment. 
  
        
  
($1 = 146.1300 yen)

 (Reporting by Archishma Iyer in Bengaluru; Editing by Maju
Samuel)
 ((Archishma.Iyer@thomsonreuters.com;))