Infrastructure investment firm Equitix, together with a consortium of investors led by Japanese power firm Kansai Electric Power, has purchased a 50 percent stake in Electricity North West (ENW) for an undisclosed amount.
The sellers were First State Investments and J.P. Morgan Asset Management, which co-owned the U.K.-based power network operator for more than a decade.
The transaction marks the first case of a Japanese electric utility entering an overseas distribution network operator market, according to Current News.
ENW will reportedly retain the remaining 50 percent stake in the company.
“We aim to develop a long-term and strategic collaboration with Electricity North West to create solutions to proactively address the current challenges to distribution networks which include smart cities, electric vehicles and virtual power,” said Hiroshi Nakajima, managing executive officer at Kansai’s international and cooperation division.