Mitsui sells stake in Canadian renewable portfolio

The renewable branch of the Japanese trading giant held a 30% stake in the 679MW package of wind and solar assets

Mitsui & Co’s renewables business has sold its 30% stake in a 679MW portfolio of Canadian wind and solar infrastructure.

Canadian infrastructure management firm Axium will acquire the assets from MIT Renewables Inc – the portfolio is made up of 12 facilities spread across Ontario and British Columbia.

The firms say the portfolio is worth around CAD$1.9 billion (£1.13bn) and note Engie Canada Inc is also invested in the portfolio.

This transaction is expected to complete in March 2020 after regulatory approval.

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