MVV Energie : subsidiary Juwi sells shares in Japanese joint venture companies

Juwi GmbH, a wholly-owned subsidiary of MVV Energie AG, is selling the shares it holds in the two Japanese joint venture companies Juwi Shizen Energy Inc. and Juwi Shizen Energy Operation Inc. The shares in both companies are being taken over by the existing joint venture partner, Shizen Energy Inc.

Juwi has been present in Japan since 2013 with these two joint ventures, which are jointly managed with Shizen Energy. Their business models involve project development, constructing renewable energies plants for the Shizen Energy Portfolio and for third parties and performing operations and maintenance services, particularly for large solar parks. Comments Dr. Georg Müller, Chief Executive Officer of MVV: "With our Japanese activities, our project development company Juwi has successfully benefited from the growing market for renewable energies in Japan and generated stable earnings for many years now. In view of developments in the Japanese renewable energies market, the joint venture will nevertheless have better prospects in the hands of Shizen Energy." Adds Stephan Hansen, COO of Juwi: "In our joint venture partner Shizen Energy, we have found the right owner to further develop the successful course taken by our former Japanese shareholdings. On behalf of Juwi, I would like to offer my thanks for the superb cooperation over the past ten years." Comment Ken Isono, Kenji Kawado and Masaya Hasegawa, Representative Directors of Shizen Energy: "With deep gratitude, we extend our heartfelt appreciation to Juwi for over a decade of transformative collaboration. As we look ahead, our enduring bond with Juwi fortifies our purpose as we jointly champion the expansion of renewable energy and the cause of a decarbonized society."