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.
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