Renova to acquire majority stake in Karatsu Biomass Energy

Renova Inc. announced its decision to acquire an additional equity interest in Karatsu Biomass Energy GK, a biomass power generation project in Karatsu City, Saga Prefecture, with a capacity of 49.9MW. This acquisition will raise Renova’s stake in Karatsu GK from 35.0% to 51.0%, making it a consolidated subsidiary. The acquisition cost is stated as JPY 613 million.

The transaction, scheduled for completion on September 30, 2025, follows an agreement granting Renova the right to acquire additional equity interests after the power plant's completion and handover. Karatsu GK, established on October 29, 2020, currently operates a wood biomass-fired power generation business. The acquisition reflects Renova's mission to develop green and self-sufficient energy systems, including solar, biomass, and wind power projects.

The impact of this acquisition on Renova's consolidated financial results for the fiscal year ending March 2026 has already been factored into the company's earnings forecast released on May 12, 2025. Renova will also file a temporary report with the Kanto Local Finance Bureau in accordance with financial regulations.