View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 30, 2020updated 18 Aug 2020 4:11am

Tokyo Gas America announces acquisition of solar project in Texas

Tokyo Gas America has announced the acquisition of 500MW AC/631MW DC Aktina Solar Project in the US from independent solar development company Hecate Energy.

Tokyo Gas America has announced the acquisition of 500MW AC/631MW DC Aktina Solar project in the US, from independent solar development company Hecate Energy.

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

Financial details of the deal have not been disclosed by either company.

The company plans to bring the the solar facility in Wharton County, Texas, online in mid-2021 across multiple phases.

The groundbreaking ceremony will take place in the third quarter of this year. Tokyo Gas owns Tokyo Gas America, and it hopes to close the deal on 5 August.

The company said in a statement that upon completion, the Aktina Solar project will become the largest solar photovoltaic project in Texas and one of the largest in the US.

It also said the project will power the fast-growing Houston market and surrounding areas for the coming decades.

This will be the first global solar project for Tokyo Gas Group where it will take the lead all elements from construction to commercial operation.

With this acquisition, Tokyo Gas’s renewable energy capacity will exceed 1,200MW DC.

In April this year, Tokyo Gas agreed to buy a 50% stake in French multinational utility company Engie’s renewables joint venture company in Mexico.

The company, Heolios EnTG, plans to develop, own and operate six renewable energy projects in Mexico. It will also finance, build, and maintain the projects.

The firm has already obtained approval from Mexico’s federal competition commission COFECE.

Related Companies

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology