Japan builder Infroneer to buy wind power firm for $1.3bn from Bain - Nikkei Asia
Japan builder Infroneer to buy wind power firm for $1.3bn from Bain - Nikkei Asia
TOKYO -- Japanese civil engineering group Infroneer Holdings plans to acquire wind power company Japan Wind Development from U.S. private equity firm Bain Capital for an estimated 200 billion yen ($1.36 billion), Nikkei has learned.
The deal would give Infroneer an avenue to expand its construction and maintenance business in the wind power sector, which is expected to balloon as Japan seeks to cut carbon dioxide emissions.
Related Knowledge Center: ENERGY BASICS: wind
Decades of government support for the development of wind energy has resulted in lower costs and a rapidly growing share of electricity generated by wind turbines. Wind in 2019 accounted for 7.3 percent of electrical generation, surpassing for the first time hydropower at 7.0 percent.