INPEX, an exploration and production company based in Japan, has announced it has agreed to purchase 50% shares of Enel Green Power Australia (EGPA). Enel Green Power Australia is a subsidiary of the Italian utility company Enel S.p.A., aka (Enel).
Enel S.p.A. is divided into two entities. These entities, Enel Green Power Australia Pty Ltd and Enel Green Power Australia Trust, own all activities in Australia. The Enel Green Power Australia is a combination of both these companies.
The company works in renewable energy operations including wind, solar, storage and hybrid projects.
INPEX agrees to acquire 50% of shares in EGPA through its subsidiary INPEX Renewable Energy Australia Pty Ltd. EGPA will be controlled by INPEX and EGPA once the transaction is complete. They will oversee the company’s current renewable generation portfolio. The company will also continue to develop its project pipeline, targeting an increase of EGPA’s installed capacity.
In the future, the Japan based company plans to create and supply a steady supply of energy. The company proposes to accomplish this by actively participating in the transformation of the energy landscape to gain a net-zero carbon society by 2050.
They plan to target and grow renewable energy initiatives and accelerate business expansion, leveraging assets acquired until the present. The shares purchase makes the diverse renewable energy market in Australia accessible to INPEX.
source: https://www.inpex.co.jp/english/news/assets/pdf/20230713.pdf
