Obton invests USD 290m in Japanese solar acquisition

Danish solar investment firm Obton A/S on Monday said it has expanded its footprint in Japan via the DKK-2-billion (USD 290m/EUR 268m) acquisition of Japanese renewables developer and operator BCPG.

The deal involves an “extensive pipeline” of solar projects in Japan.

"We have really taken a significant step up in our presence in Japan with this aggressive acquisition. In addition to gaining a highly competent and local staff, we are also acquiring an attractive pipeline of new energy projects," said Mikkel Berthelsen, chief acquisition officer at Obton.

According to the announcement, Obton currently has 400 MW of solar in operation in Japan, which places it among the top ten operators in the market. It expects to reach 1 GW of solar capacity within the next five years.

Obton recently announced a joint venture with GSSG Solar LLC to acquire a 117-MW solar portfolio in Japan.

In December 2023, Thai renewable energy group BCPG Pcl announced a transaction to sell its Japanese unit and its 117-MW solar portfolio in the country to Obton.

(DKK 1 = USD 0.145/EUR 0.134)