Tokyo Gas America Ltd., a wholly owned subsidiary of Tokyo Gas Co. Ltd. has completed the previously announced acquisition of Hecate Energy’s 500-megawatt Aktina Solar Project in Wharton County, Texas.
Although a final sale price was not given, Tokyo Gas previously disclosed a capital contribution of JPY49 billion ($466 million).
Marathon Capital acted as exclusive buy-side financial adviser to Tokyo Gas on the transaction.
Located near the high-demand Houston load center, Aktina will sell its generated power to the Electric Reliability Council of Texas (ERCOT) wholesale market.
The solar project will begin construction in the third quarter of 2020.
Tokyo Gas now owns or is under contract to acquire more than 1,200 megawatts of renewable energy capacity in Japan and globally. Tokyo Gas is planning to achieve net-zero carbon emissions by 2050 and grow its renewable pow
