Toyota Tsusho, a division of the Toyota Group, has agreed to buy an 85 per cent stake in SoftBank Group’s (SBG) subsidiary, SB Energy. No financial details of the deal have been disclosed. Following the agreement, SBG will keep working with SB Energy and will control the remaining 15 per cent of the company. The company created SB Energy in October 2011 in response to the Great East Japan Earthquake, which took place on March 11, 2011.
SB Energy has constructed and operated a total of 773 MW of renewable energy capacity in Japan since its founding. This portfolio is made up of 667.1 MW of solar assets and 55.9 MW of wind projects. In the Mongolian Gobi Desert, SB Energy has also developed 50 MW of wind energy.
Toyota Tsusho stated that it anticipates SB Energy will assist it in becoming one of biggest producers of solar and wind energy in Japan. Through its subsidiary Eurus Energy, which is Japan’s largest wind power producer, the company has been expanding its footprint in the country’s renewable energy market.
REGlobal’s Views: This massive stake sale by SB Energy comes after its complete exit from the Indian renewable energy market in 2021. Meanwhile, Toyota Tsusho has been gradually increasing its renewable energy portfolio as the company moves towards carbon neutrality.
