Japan’s Itochu invests in UK Winch Energy

Summary

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Winch Energy Ltd, the UK off-grid renewable energy developer, has announced an investment from Japanese trading company Itochu Corp (TYO:8001) which it will use for funding projects and the needs of future developments.

The Japanese company made the investment via its subsidiary Itochu Europe Plc, which is now the new shareholder for Winch Energy. Other shareholders in the company are UK-based Winch Partners Ltd, French renewable energy provider Total Eren SA, and Saudi-based firm Al Gihaz.

Winch Energy has also signed a marketing and sales deal with Itochu Europe Plc as part of which the company’s remote power unit technology will be sold via Itochu’s global network. Both companies will also work together on the development of off-grid power projects in Asia.

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