By Kosaku Narioka

Eneos Holdings Inc. said Monday that it would buy Japan Renewable Energy Co. for 200 billion yen ($1.78 billion) in a bid to boost its renewable-energy portfolio.

The Japanese energy company said it would buy all outstanding shares from Goldman Sachs Asset Management's infrastructure fund and an affiliate of Singapore's GIC Private Ltd.

Eneos said it aims to become a leading renewable-energy company in Japan through the acquisition, which is expected to be completed in late January. Eneos hopes to achieve net-zero carbon emissions by 2040.

Many energy companies have been going through business portfolio restructuring around the world. India's Reliance Industries Ltd. said Sunday that it would buy Norway-headquartered solar cells and panels manufacturer REC Solar Holdings AS for $771 million.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

10-11-21 0256ET