NTT, JERA Plan $2.18 Billion Renewables Acquisition in Japan, Nikkei Reports

--Nippon Telegraph & Telephone and Japan's largest power company, JERA, are nearing a deal to acquire Tokyo-based Green Power Investment for about 300 billion yen ($2.18 billion), Nikkei reports, without citing sources.

--An announcement of the deal, which would be one of the country's largest ever for a renewable-energy company, could come as early as Thursday, according to Nikkei.

--NTT, which plans to buy the majority of GPI shares, is interested in the company's wind and solar farms, while JERA has its eye on GPI's offshore-wind capabilities, Nikkei said.

--NTT and JERA didn't immediately respond to a request for comment.

Full story: s.nikkei.com/45eiqD9

Write to Farah Elias at [e-mail]

(END) Dow Jones Newswires

05-18-23 0040ET