Japan-based Shizen Energy has concluded a share transfer agreement with Germany’s Juwi GmbH for their joint venture companies.

Shizen Energy will take full ownership of renewable contractors juwi Shizen Energy (JSE) and JUWI Shizen Energy Operation (JSEO). The companies, established in 2013, have developed portfolios of renewable energy plants in Japan, including 758.4 MW of solar.

Shizen Energy said the acquisition positions it to accelerate the expansion of key project pipelines, seize corporate power purchase agreement (PPA) growth opportunities, and “bolster its presence in the burgeoning battery storage business.”

It added that the share transfer stemmed from its “commitment to building a more agile, flexible, and robust organization capable of advancing business operations with greater speed, crucial for realizing a decarbonized society.”

Shizen Energy said some details around the transaction are still under discussion, with further details to be announced once it is finalized.