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Marubeni Acquires Stake in Portuguese Power Assets Held by GDF SUEZ
 

Tokyo, Aug 5, 2013 (JCN) - Marubeni Corporation has signed a strategic partnership with GDF SUEZ (GDFS) to acquire 50% of National Power International Holdings B.V. which holds GDFS's asset portfolio of thermal and renewable power assets in Portugal.

This portfolio consists of many generation types including natural gas-fired combined cycle power plant, coal-fired power plant, wind generation, small hydro generation and photovoltaic generation and has a capacity of around 3,300MW. This is approximately 17% of the power generation capacity in Portugal and is therefore a vital part of the basic power infrastructure in the country.

Marubeni will be managing the power plants in conjunction with GDFS and will contribute to Portugal by providing seamless and efficient operation of the power plants.

This acquisition will be Marubeni's full-fledged entry into the European power market. Marubeni is looking to expand on this acquisition and is looking for this to lead to more development and investment opportunities in IPP projects in the market.

Marubeni hopes to globally expand its already established partnership with GDFS in Asia and the Middle East markets by creating this new strategic partnership in the European market.

With the acquisition of these power assets, Marubeni is the first Japanese IPP developer to achieve net generating capacity of 10,000MW.

By Jun Ota Staff Writer

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