JERA completed its acquisition of a 22% stake in Summit Power International for $330m.

JERA, Japan’s largest energy company, completed its acquisition of a 22% stake in Summit Power International, an infrastructure developer and operator in South Asia, for $330m. IFC, IFC Emerging Asia Fund, and EMA Power, were shareholders of Summit since 2016 until now, and will exit through this transaction. “JERA is fully dedicated and committed to the future development and economic growth of Bangladesh through this precious partnership with Summit. We believe that Summit has unrivaled presence and capacity in the country. Thus, we will humbly and steadily provide our support to them in the future. We look forward to working together with Summit in supplying not only reliable electricity but also primary energy sources to the people of Bangladesh. Our mission is to provide comprehensive solutions with state-of-the-art technologies to meet the underlying challenges in the energy industry globally.” Toshiro Kudama, CEO of JERA Asia.