TOKYO, April 1 (Reuters) - Japanese renewable power producer Renova Inc said on Monday it will issue new shares worth $117.62 million to Tokyo Gas as the two firms plan to closely work on renewable energy sources and storage battery businesses.

Under the capital alliance deal, Renova will issue 11,877,600 new shares to Tokyo Gas through a third-party allotment. The share sale will make the utility giant the second biggest shareholder of Renova with 13.04% of total outstanding shares.

Renova and Tokyo Gas plan a joint development of onshore wind power generation business, collaboration in biomass power generation business and grid-scale battery storage device business.

Renova said it also plans to discuss with Tokyo Gas about the addition of 100MW to the power purchase agreement. ($1 = 151.3400 yen) (Reporting by Mariko Katsumura; Editing by Alison Williams)