Sojitz Joins Wind Power Project in Ireland
Jul. 31, 2017
Sojitz Corporation (“Sojitz”) has concluded a stock purchase agreement through subsidiary ShaMrocK Wind Limited (Head Office: London, United Kingdom; Representative Director: Yuji Yuasa; “ShaMrocK Wind”)—a joint venture established in the United Kingdom with Mitsubishi UFJ Lease & Finance Limited and several Kansai Electric Power subsidiaries—to acquire a 60% stake in Evalair Limited (Head Office: Cork, Ireland;; “Evalair”), through which Sojitz will take on operation of a wind power plant in Ireland. Once local administrative procedures are complete, they plan to finish the share acquisition process sometime in late August. This will effectively give Sojitz a 29.3% stake in Evalair through ShaMrocK Wind.
Evalair owns and operates five wind power plants in Ireland with a combined generating capacity of 223,000KW, providing renewable energy-based electricity to Ireland’s power market under the country’s feed-in tariff system.
Ireland boasts some of the best wind conditions in the world and has set a goal of having 40% of their total energy consumption covered by renewable energy by 2020. It is predicted the country will see many more wind power plants built in the years ahead. Sojitz intends to develop and construct new power plants in Ireland utilizing energy generation-related development and operations expertise accumulated in Japan and abroad. Additionally, Sojitz plans to further nurture its renewable energy generation business into a pillar of stable revenue within Europe, by actively working on wind power generation businesses not only in Ireland, but it other places in the region anticipating sustainable growth.
Evalair Limited – Company Overview
|Main Business||A holding company having 5 wind power plants|
|Shareholders||Existing Shareholders (commonly named ‘’Invis Energy’’) – 40%
ShaMrocK Wind Limited: – 60%
ShaMrocK Wind Limited – Company Overview
|Main Business||Special purpose vehicle to conduct equity injection in Evalair|
|Shareholders||Mirai Power Europe Ltd. (Sojitz Corporation: 75%, Sojitz Europe Plc.: 25%) – 48.8%
KPIC Netherlands B.V. (The Kansai Electric Power Co., Inc.: 100%) – 40%
Mitsubishi UFJ Leasing & Finance Limited: 100% – 11.2%
|Representative Director||Yuji Yuasa|
Evalair Limited’s Wind Power Business
|・KG Power Plant (Country Kerry）
・LGLP Power Plant (Country Galway）
・KD Power Plant (Country Cork）
|Type of Power Generation||Wind power|
|Generation Capacity (Total Output)|
|Off-taker||Ireland’s wholesale electricity market|