Marubeni targets floating solar expertise through Chenya Energy deal

Facebook
Twitter
LinkedIn
Reddit
Email
Image: Chenya Energy.

Japanese trading giant Marubeni has picked up Taiwanese solar portfolio developer and operator Chenya Energy, intending to ramp up its floating solar exposure as a result.

Marubeni is to acquire all interests in Chenya currently owned by I Squared Capital, a global infrastructure investment manager, with Chenya becoming a wholly owned subsidiary of Marubeni’s upon completion.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

In a statement, Marubeni said that in acquiring Chenya Energy it was to gain expertise in the floating solar market, an area it would expand on in Taiwan and other regions.

I Squared launched Chenya via its pan-Asian renewables development vehicle Asia Cube Energy in 2017. Since then the firm has seen its solar portfolio swell to 344MW, split between floating, rooftop and ground-mounted projects.

Marubeni’s solar investments have been diverse, picking up large-scale projects in markets such as Oman, Abu Dhabi and Qatar, on top of more distributed generation assets through its investments in GridMarket and Azuri Technologies.

In acquiring Chenya, Marubeni will add ~350MW of PV to a 600MW gas-fired generation plant it already owns in the country, making it one of Taiwan’s largest independent power producers.

Gautam Bhandari, managing partner at I Squared Capital, said the deal was the company’s third platform realisation in emerging markets, arguing the deal added to its “consistent track record” in creating value for investors via infrastructure developments.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.

Read Next

July 25, 2025
Oil and gas major bp has confirmed it will exit the Australian Renewable Energy Hub (AREH), a 26GW wind, solar and green hydrogen project planned for Western Australia.
July 15, 2025
Greater policy clarity will be needed if Germany is realise its FPV potential, according to a report from Fraunhofer ISE.
July 15, 2025
Malaysian utility company Tenaga Nasional Berhad has officially launched a floating solar pilot project, which could help unlock 2.2GW of generation capacity.
July 2, 2025
A new state-owned green bank, the Energy Security Corporation (ESC), has launched in New South Wales, Australia, with an initial funding allocation of AU$1 billion (US$640 million).
July 1, 2025
A five-year research initiative is underway in Australia to test the viability of floating solar systems on irrigation dams.
June 27, 2025
Solar developer Lightsource bp has signed a power purchase agreement (PPA) with a subsidiary of Taiwanese energy firm HD Renewable Energy (HDRE).

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK