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    Japan's Mitsui exits Mexican CCGT


The company will book a loss of 7.8bn yen ($71mn) from the transaction.

by: Shardul Sharma

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Complimentary, Natural Gas & LNG News, Americas, Asia/Oceania, Security of Supply, Gas to Power, Corporate, Financials, News By Country, Japan, Mexico

Japan's Mitsui exits Mexican CCGT

Japanese conglomerate Mitsui & Co. has sold its 40% stake in MT Falcon Holdings, which operates five combined cycle gas turbine (CCGT) power projects in Mexico, to UK-based Actis GP, it said on September 16.

The transaction is expected to close before once regulatory approvals are secured and other conditions met, Mitsui said.

Mitsui will record approximately 7.8bn yen ($71mn) loss from this transaction. The expected loss has not been incorporated in the company’s forecasts for the fiscal year ending March 2022 announced last month, it said.

Earlier in the day, another Japanese company Jera announced its exit from the project.