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New Deal


Announced

Tokyo Gas America to acquire Longbow BESS from CleanCapital for $216m.

Financials

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Transaction Value£170m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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energy storage

Acquisition

Single Bidder

Majority

Friendly

United States

Storage Terminals

Private Equity

Private

Domestic

Pending

Synopsis

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Tokyo Gas America, an oil & energy company, agreed to acquire Longbow BESS, a standalone battery energy storage system, from CleanCapital, a company that specializes in the development and financing of utility-scale solar and battery energy storage projects across the United States, for $216m. "Longbow BESS represents a significant step forward in our commitment to providing clean and reliable energy solutions. Together, we aim to contribute to the sustainable energy future of the ERCOT-Houston region, delivering innovative and reliable power solutions to meet the growing demands of the market," Ken Kiriishi, Tokyo Gas America Senior Vice President.

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