Mitsubishi Corp. Acquires 50% Stake in France Solar-Power Plant

Mitsubishi Corp. (8058), Japan’s biggest trading house by market value, acquired a 50 percent stake in a solar power plant in France from EDF Energies Nouvelles SA, Mitsubishi said in a statement.

Toul-Rosieres solar power plant tranche 1, which started operations in June, has a capacity of 55 megawatts, according to the statement.

Total project cost is about 22 billion yen ($250 million), Mitsubishi said. The company didn’t say how much it paid for the stake.

The move is the first time for Mitsubishi to acquire a photovoltaic power generating asset in France, according to the statement.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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