Mitsui & Co. to Acquire SunWize

Mitsui & Co., Ltd. and Mitsui & Co. Inc. will acquire SunWize Technologies, LLC, a company based in Kingston, New York, that specializes in the design and manufacture of integrated solar power systems, as well as associated project development and product distribution. Beginning in December, SunWize will be operated as a 100% subsidiary of Mitsui.

This acquisition will significantly enhance Mitsui’s participation in the solar power business in the North American market, a market growing at 30% annually. Mitsui has been selling solar modules to SunWize and other leading North American companies since 2002. After the acquisition, Mitsui will retain the current management and employees of SunWize and add Mitsui personnel to the company’s management. By combining its comprehensive strength in finance, cultivation of new technologies, development of new applications for solar energy, and establishment of a sales force outside North America, Mitsui plans to expand its business in solar power in addition to other renewable energy technologies such as wind, biomass, and fuel cells.
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