Goldman Sachs and GIC Sell Japan Renewable Energy Corp to Oil Refining Giant ENEOS Holdings
Posted on 10/07/2021
ENEOS Holdings, Inc. is a Japanese petroleum and metals conglomerate headquartered in Tokyo, Japan. ENEOS Holdings is also Japan’s largest oil refiner. Goldman Sachs and Singapore’s GIC Private Limited sold Japan Renewable Energy Corporation to ENEOS Holdings for roughly 200 billion JPY (US$ 1.793 billion). As Japanese public pension funds, banks, and giants like Japan Government Pension Investment Fund (GPIF) adopt ESG factors and embrace earlier stewardship principles, oil companies in Japan are attempting to offset their carbon emissions. For ENEOS, buying a renewable energy company could be a first step.
Japan Renewable Energy Corporation was formed in 2012 and it develops and builds renewable energy assets and has 419 megawatts of solar, onshore wind and biomass capacity in operation.
