Tokyo Gas America announces acquisition of solar project in Texas

  • Jul 30, 2020
  • Power Technology

Sign up here for GlobalData's free bi-weekly Covid-19 report on the latest information your industry needs to know.

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.

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.