Chubu Electric Power : Acquisition of Shares of Three Companies including Jenex as Wholly Owned Subsidiaries
November 27, 2023
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Acquisition of Shares of Three Companies including Jenex as Wholly Owned Subsidiaries
November 28, 2023
Chubu Electric Power Co.,Inc.
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In order to further promote the development of solar power stations, Chubu Electric Power decided to make Jenex, Inc., Jenex Partners, Inc. and Japan Energy Next Corporation ("Jenex Group") its wholly owned subsidiaries, and on November 22, concluded a share purchase agreement to acquire all outstanding shares of Jenex Group.
This is the first time that Chubu Electric Power has acquired a wholly owned subsidiary engaged primarily in solar power generation business.
Jenex Group is involved in the development, operation, maintenance, and management of solar power plants, and owns approximately 200 solar power plants (total power output: 83,000 kW) mainly in five prefectures of the Chubu area. Jenex Group plans to further develop approximately 200 new sites (total power generation output: approx. 110,000 kW) in the future, demonstrating its high project development capabilities.
Chubu Electric Power Group will accelerate the development of new solar power stations with the acquisition of Jenex Group as a wholly owned subsidiary, and utilize the developed power sources for off-site PPA (Note) services provided by retail electric power companies, thereby meeting the growing needs of customers for non-fossil values.
(Note) Abbreviation for Power Purchase Agreement. Off-site PPA is a contract method in which renewable energy power source is supplied to customers from a dedicated power plant located off-site at the demand site.
【Reference】Overview of Jenex Group
Company Name
Jenex, Inc.
Headquarters
218 Sawatari-machi, Hekinan City, Aichi Prefecure
Representative
Kiyonari Ishikawa, Representative Director
Established
April 2008
Capital
25 million yen
Business Activities
Development, operation, maintenance, and management of solar power plants
Sales of renewable energy electricity
Support for local decarbonization projects
Surveys and research on new energy in general
Company Name
Jenex Partners, Inc.
Headquarters
218 Sawatari-machi, Hekinan City, Aichi Prefecure
Representative
Kiyonari Ishikawa, Representative Director
Established
March 2018
Capital
3 million yen
Business Activities
Solar power plant ownership
Company Name
Japan Energy Next Corporation
Headquarters
1-7-14 Osu, Naka-ku, Nagoya City, Aichi Prefecture
Chubu Electric Power Co. Inc. published this content on 28 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 December 2023 08:04:07 UTC.
Chubu Electric Power Co., Inc specializes in the production and distribution of electricity. Net sales break down by activity as follows:
- sale of electricity (85.8%);
- other (14.2%): primarily sale of gas and electric installation maintenance services.