Japan Renewable Energy Buys 16MW Wind Power Plant From Sumitomo

Japan Renewable Energy Co., a unit set up by Goldman Sachs Groups Inc. to invest in clean-energy projects, bought a 16-megawatt wind-power plant in Japan’s northern Yamagata prefecture, marking its entry into the field.

The company began wind-power operations after taking over the facility from Sumitomo Corp.’s Summit Energy Corp., Tokyo-based Japan Renewable said today in an e-mailed statement, without giving the value of the deal.

The acquisition was estimated at 2 billion yen ($19.6 million) to 3 billion yen, the Nikkei newspaper earlier reported, without saying where it got the information.

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