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Energy

Marubeni enters Taiwan renewable energy market via acquisition

Trading house invests over $100m in Chenya Energy with 270,000 kW output

Taiwan's Chenya Energy is building an offshore solar farm with an output capacity of 180,000 kW. 

TOKYO -- Marubeni will purchase a Taiwanese renewable energy company that is developing one of the world's largest offshore solar farms, seeing an opportunity in a market trying to wean itself off nuclear power.

The Japanese trading house will spend more than 10 billion yen (or over $100 million) for a 100% stake in Chenya Energy as well as its power generation facilities with a total capacity of 270,000 kW.

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