Toyota Tsusho buys 85% stake in SoftBank’s renewables unit – pv magazine International

Toyota Tsusho, a unit of Japan’s Toyota Group, has agreed to purchase an 85% stake in Japanese renewable vitality developer SB Vitality from SoftBank.

“SB Vitality will probably be a subsidiary of Toyota Tsusho, with an 85% inventory possession ratio and an affiliate of Softbank with a 15% inventory possession ratio,” SoftBank stated in an announcement, with out disclosing phrases. the financials of the deal. “[We] discover the collaborative efforts of their group firms in renewable vitality companies, such because the joint growth of renewable vitality, electrical energy provide and demand adjustment, and so forth., aiming to realize carbon neutrality.

SB Vitality presently owns and operates 773 MW of renewable vitality property in Japan, together with 667.1 MW of solar energy and 55.9 MW of wind energy. This portfolio will probably be added to Toyota’s Eurus Vitality unit.

“By becoming a member of SB Vitality beneath the umbrella of Toyota Tsusho, Toyota Tsusho Group will change into one of many largest energy mills in Japan not solely in wind energy but additionally in solar energy,” SoftBank stated.