Japanese company Osaka Gas Co Ltd announced its investment in a 23MW solar portfolio in Japan.
The company has joined hands for a project which is developed by Sky Solar Japan KK. The portfolio will be located across Japan.
It has been reported that the latest development is followed by an agreement signed by the duo in 2021.
As per the agreement, the duo had agreed for the "joint development and ownership of mainly small and medium-sized solar power plants."
According to the company, the portfolio will be "owned and operated by a special purpose company."
It has been informed that this company will have a 51% stake of Sky Solar Japan KK and the remaining 49% of Osaka Gas.
Meanwhile, Osaka Gas will "purchase all the electricity generated, aiming to expand the supply of renewable energy to its customers," a report said.