On April 30, 2020, Hokkaido Electric Power (HEPCO, Headquarters: Sapporo City, Hokkaido) announced that it had acquired a 40% stake in Alten RE Developments America B.V. (Alten America, Headquarters: Amsterdam, Netherlands), as part of its participation in the operation of the Cubico Alten Aguascalientes Solar Project in Mexico. Alten America is a subsidiary of Alten Renewable Energy Developments B.V. (Alten), which invests in solar power generation businesses. Alten owns a 20% share of Alten America.

Alten America has a 30% stake in the Solar Power Project Company, thus HEPCO will own a 12% share of the Company. It will be the first time HEPCO has joined an overseas power generation business. The Cubico Alten Aguascalientes Solar Project, located in the El Llano municipality of Aguascalientes, includes two solar power plants with a total installed capacity of 290MW. The power generated by the two plants will be sold to the state-owned power utility, Comisión Federal de Electricidad (Headquarters: Mexico City, Mexico). HEPCO expects to earn a stable income from this investment as the Cubico Alten Aguascalientes Solar Project has a long-term power purchase agreement with Comisión Federal de Electricidad.[1] [2] This investment aligns with the goals laid out in HEPCO’s Management Vision 2030, in which HEPCO committed to expanding its domestic and overseas renewable businesses to contribute to a sustainable society.

[1] https://www.hepco.co.jp/info/2020/1250847_1844.html

[2] https://wwwc.hepco.co.jp/hepcowwwsite/info/2020/__icsFiles/afieldfile/2020/04/30/200430.pdf