Japan's Mitsui OSK, others to buy 25% stake in Taiwan's Formosa-1 wind farm
04/03/2022 06:31
TOKYO, March 4 (Reuters) - 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.
(Reporting by Yuka Obayashi; Editing by Clarence Fernandez)
((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))