Danish solar investment company Obton has completed the acquisition of Japanese solar developer BCPG and its extensive project portfolio.

The deal, valued at DKr2bn ($292m), marks a substantial investment in Japan's solar energy market.

BCPG is known for the development and operation of renewable energy projects.

This acquisition by Obton is set to bolster its presence in the Japanese market, where it already operates a solar portfolio with a total capacity of 400MW. This places Obton among the top ten operators in the country.

The strategic acquisition is part of Obton's ambitious plan to expand its solar energy capacity in Japan.

The company has set a target to reach 1GW capacity by 2029, indicating a strong commitment to growth in the renewable energy sector.

Obton chief acquisition officer Mikkel Berthelsen stated: “Obton is now stronger in the Japanese energy market than ever before.

“We have taken a significant step up in our presence in Japan with this aggressive acquisition. In addition to gaining a highly competent and local staff, we are also acquiring an attractive pipeline of new energy projects.

"We are looking at a market that is growing explosively. It is very similar to the European energy market, where the number of renewable energy projects has also exploded.

“The demand for green electricity in Japan is enormous, highlighting the potential for our focus on the development and operation of both solar and battery storage projects. Japan also has an exciting power purchase agreement market ahead, which we will naturally pursue.”

In June 2024 Obton partnered with Trina Storage to deliver Elementa energy storage systems in Germany.