Japan's Tokyo Gas Co Ltd said on April 8 it has agreed to buy for an undisclosed sum a 50% stake in Engie's renewable company in Mexico that owns and operates six solar and wind power projects.
The six projects with a total 899 megawatt (MW) power generation capacity were granted 15-year power purchase agreements through Mexican power auctions and will start commercial operation by July 2020, Tokyo Gas said in a statement.
The deal marks the first overseas renewable project for Tokyo Gas, which has set a goal to invest in 600 MW capacity of overseas renewable energy by the end of March 2021, a Tokyo Gas spokesman said.
Front-month gas futures rose 7.3 cents, or 3.4%, to settle at $2.238 per million British thermal units, their highest close since Dec. 26.
Saudi Arabia's state oil producer Aramco has cut the official selling prices for its crude to Asia and Europe, while leaving them unchanged for the U.S., a document obtained by Reuters showed.
Cargo was less than can be carried by one Aframax tanker.