Marubeni Corporation announced the transfer of its entire 40% stake in Everpower IPP Co., Ltd., the owner and operator of a liquefied natural gas (LNG)-fueled combined-cycle power plant in Taiwan. The stake was acquired by Jack Wang Motors Group, Everpower’s majority shareholder.
The operation is part of Marubeni’s corporate strategy to optimize its asset portfolio and redirect resources towards growth opportunities considered a priority within its medium-term management plan GC2027.
A crucial asset for Taiwan’s electricity supply
Everpower operates a 900 MW combined-cycle power plant located in Taoyuan City, in northern Taiwan. The facility supplies electricity through a long-term power purchase agreement with Taiwan Power Company, the state-owned enterprise responsible for the country’s power grid.
Thanks to this infrastructure, the company has contributed for years to the stable supply of energy in one of the regions with the highest industrial activity on the island.
Three decades of Marubeni’s involvement
Marubeni joined the project in 1995 and participated in both the development and construction of the plant. After the facility became operational, the Japanese company remained involved in the operation of the asset, ensuring continuous power production through the plant’s stable operation.
The LNG-fueled power plant was established as one of the key energy projects within the company’s international portfolio in Asia.
Strategy focused on new investments
According to the company, the sale of its stake in Everpower is in line with its objective of accelerating capital recovery and strengthening the allocation of resources towards investments with greater growth prospects.
Likewise, Marubeni indicated that it will continue to promote asset renewal within its various lines of business to improve the efficiency of its portfolio and increase long-term corporate value.
The transaction reflects an increasingly common trend among large industrial and energy groups seeking to balance the maturity of certain assets with new investment opportunities in strategic markets.
Source: Marubeni
Photo: Shutterstock
