April 8, 2019 / 10:34 AM / 3 months ago

Tokyo Gas buys 50 pct stake in Engie's renewable energy firm in Mexico

TOKYO, April 8 (Reuters) -

* Japan’s Tokyo Gas Co Ltd said on Monday it has agreed to buy for an undisclosed sum a 50 percent stake in Engie’s renewable company in Mexico that owns and operates six solar and wind power projects

* The six projects with a total 899 megawatt (MW) power generation capacity were granted 15-year power purchase agreements through Mexican power auctions and will start commercial operation by July 2020, Tokyo Gas said in a statement

* The deal marks the first overseas renewable project for Tokyo Gas, which has set a goal to invest in 600 MW capacity of overseas renewable energy by the end of March 2021, a Tokyo Gas spokesman said

Reporting by Yuka Obayashi; Editing by Tom Hogue

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