Eneos to buy Japan Renewable Energy for $1.8B: Nikkei

Pump jacks pump oil at an oil field on the shores of the Caspian Sea in Baku, Azerbaijan. Photo by Reuters/Grigory Dukor. Sketched by the Pan Pacific Agency.

TOKYO, Oct 7, 2021, Reuters. Japanese oil company Eneos Holdings Inc (5020.T) plans to buy Japan Renewable Energy for about 200 billion yen ($1.8 billion) from Goldman Sachs (GS.N) and Singaporean sovereign wealth fund GIC, the Nikkei business daily reported on Thursday, according to the Reuters.

The deal would mark the first major purchase of a renewables firm by a top Japanese oil company, the Nikkei said, as Eneos looks to shift away from fossil fuels.

An Eneos spokesperson said the company was considering various options to expand its renewable energy business but that nothing had been decided.

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