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DNV GL Reviews Renewable Assets for Tokyo Gas’s Mexican market entry

Power News - Published on Fri, 10 Jan 2020

Image Source: DNV GL
DNV GL has reviewed an almost 900-MW renewable portfolio in Mexico during technical due diligence for the acquisition of a 50%-share of the portfolio by Tokyo Gas Co Ltd Japan's largest provider of city gas. The acquisition is Tokyo Gas’s first investment in the Mexican renewable energy sector. The portfolio comprises two onshore wind plants and four solar photovoltaic assets, totalling 898.7 MW. Tokyo Gas and ENGIE have created a 50/50 joint venture to develop these renewable energy projects. The investment is a further step in Tokyo Gas’s commitment to make its business both more sustainable and more international.

It also reflects the high interest global investors from a range of industries are showing in the Latin American renewable energy market. In recent years, Latin America has developed as an increasingly attractive market for renewable energy investments. With growing expectations and opportunities for foreign investment, market complexity becomes a challenge for foreign companies, particularly investors from other industries.

The technical due diligence conducted included an independent assessment of the energy production for each wind and solar asset as well as reviews of the design and technology, permit status, available construction and operation agreements, and financial model assumptions. This assessment is key for investors to estimate the risk and return of investments.

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Posted By : Arun Huidrom on Fri, 10 Jan 2020
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