Japan’s Sojitz, ENEOS establish large scale solar power plant in Australia
- October 3, 2023
- Posted by: Quatro Strategies
- Categories: Asia Pacific, ESG & Renewable Energy
Japanese trading firm Sojitz and the leading Japanese refiner, Eneos, have inaugurated a significant solar power plant in Queensland, Australia, as announced in a joint statement. This initiative is part of a broader trend where Japanese companies are making investments in renewable energy ventures globally, aligning with their strategies to diversify their portfolios and achieve “net-zero” targets.
These endeavors abroad are meant to bring back valuable experience to Japan and reduce dependence on fossil fuels.
The Edenvale Solar Park boasts a capacity of 204 megawatts and construction began in June 2021, with the plant officially launched on September 28, although financial specifics were not disclosed. Sojitz and Eneos share a 50% stake in the joint venture managing the plant.
Notably, this solar power facility is the largest in Australia operated by Japanese investors, underlining their commitment to sustainable energy ventures beyond their home country.
QUATRO Strategies International Inc. is the leading business insights and corporate strategy company based in Toronto, Ontario. Through our unique services, we counsel our clients on their key strategic issues, leveraging our deep industry expertise and using analytical rigor to help them make informed decisions to establish a competitive edge in the marketplace.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
UAE to double nuclear power capacity with tender for new plant construction
The United Arab Emirates (UAE) is set to tender for the construction of a new nuclear power plant, doubling the number of reactors in the small Gulf state. In 2021, the UAE became the first Arab state to operate a nuclear power plant with the opening of the Barakah facility in Abu Dhabi, built by South Korea…
Norilsk Nickel allocates $100 Million for palladium research and development
MMC Norilsk Nickel PJSC, a major global producer of palladium, is allocating $100 million toward research and development efforts aimed at discovering new applications for palladium. The investment, scheduled through 2030, will focus on projects in the hydrogen, solar power, and…
Oversupply, battery market slowdown cause slump in cobalt prices
Cobalt, once hailed as a commodity with an endlessly rising price, has experienced a sharp decline in recent years due to global oversupply and a slowdown in the battery market. Most of the world’s cobalt supply comes from the Democratic Republic of the Congo (DRC)…