Japanese multinational Mitsui & Co. is setting its sights on the UK’s growing clean energy market, funnelling “approximately” 1.4 billion yen ($13m) investment in Tonik Energy, an independent supplier of renewables and flexible tariffs. Mitsui, which expects to make a JPY 440bn ($4.04bn) net profit this year, said the investment – around JPY 1.4bn – was being made through holding company Retig Ltd, which owns 100 per cent of Birmingham-based Tonik.
Business Green 13th Feb 2019 read more »
Mitsubishi Corporation is taking a 20 per cent stake in fast-growing UK electricity supplier Ovo Energy, as the Japanese industrial group seeks growth and a foothold in the digital energy transition. The deal values Ovo Energy at about £1bn, making the 10-year-old start-up one of the UK’s “unicorns”, and the cash injection of around £216m will help fund its international expansion.
FT 14th Feb 2019 read more »