Japan’s Sojitz, ENEOS establish large scale solar power plant in Australia
- October 3, 2023
- Posted by: Quatro Strategies
- Categories: Asia Pacific, ESG & Renewable Energy
Japanese trading firm Sojitz and the leading Japanese refiner, Eneos, have inaugurated a significant solar power plant in Queensland, Australia, as announced in a joint statement. This initiative is part of a broader trend where Japanese companies are making investments in renewable energy ventures globally, aligning with their strategies to diversify their portfolios and achieve “net-zero” targets.
These endeavors abroad are meant to bring back valuable experience to Japan and reduce dependence on fossil fuels.
The Edenvale Solar Park boasts a capacity of 204 megawatts and construction began in June 2021, with the plant officially launched on September 28, although financial specifics were not disclosed. Sojitz and Eneos share a 50% stake in the joint venture managing the plant.
Notably, this solar power facility is the largest in Australia operated by Japanese investors, underlining their commitment to sustainable energy ventures beyond their home country.
QUATRO Strategies International Inc. is the leading business insights and corporate strategy company based in Toronto, Ontario. Through our unique services, we counsel our clients on their key strategic issues, leveraging our deep industry expertise and using analytical rigor to help them make informed decisions to establish a competitive edge in the marketplace.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
France’s EDF secures cooperation agreements for nuclear ventures across the globe
EDF, the French nuclear operator, has announced a series of cooperation agreements with partners in Canada, the Czech Republic, India, and France, with the goal of securing local supply chains and suppliers for future nuclear projects. In Canada, EDF signed a letter of intent…
Hitachi Energy responds to India’s renewable energy drive with expansion plans
Hitachi Energy’s plans to establish additional global capability centers (GCC) in India reflect the company’s strategic focus on expanding its local operations in response to the growing energy demand and the increasing emphasis on renewable energy generation in the country. With its…
China, Europe, and US engage in robust buying to rebuild oil stocks
The push to replenish depleted oil stocks, particularly in regions such as China, the United States, and Europe, is expected to provide support to oil demand and prices in the coming months. This trend comes amidst escalating tensions in the Middle East, which pose threats to key shipping lanes and…