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Tokyo Gas America Acquires the Aktina Solar Project

August 13, 2020 by Solar Industry Mag

Marathon Capital LLC, a financial advisory and investment banking firm, says Tokyo Gas America Ltd., a wholly owned subsidiary of Tokyo Gas Co. Ltd., has acquired Hecate Energy LLC‘s Aktina Solar Project. Aktina is a 500 MW AC/631 MW DC solar project located in Wharton County, Texas.

Marathon Capital acted as exclusive buy-side financial advisor to Tokyo Gas on the transaction, providing comprehensive due diligence support, offtake advisory and project valuation. Aktina is located near the high-demand Houston load center and will begin construction in Q3. The generated power will be sold to the ERCOT wholesale market.

With the acquisition of Aktina, the total renewable energy capacity Tokyo Gas owns or is under contract to acquire in Japan and globally will exceed 1,200 MW DC. Tokyo Gas is committed to achieving net zero CO2 emissions by around 2050 and growing its renewable power capacity in Japan and global markets to 5 GW by 2030 as part of its “Compass 2030” vision.

“It’s been great to work with the Marathon Capital team. Their insights and guidance have been critical to our first solar project acquisition in the U.S.,” says Ken Kiriishi, senior vice president at Tokyo Gas America.

“I greatly appreciate their in-depth knowledge of the renewables space and, moreover, their ability to understand our objectives and their passion to achieve our strategic goal together,” he adds. 

Photo: Hecate Energy’s Projects web page

The post Tokyo Gas America Acquires the Aktina Solar Project appeared first on Solar Industry.

Filed Under: Renewable, Solar

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