Infrastructure investor Stonepeak has acquired a controlling stake in Japanese company Shizen Energy Inc's onshore wind development platform, TerraWind Renewables, in a move aimed at accelerating its business.
The transaction has given Stonepeak an 80% stake in TerraWind, with Shizen retaining the remaining 20%, the US investor announced on Monday.
Established nearly a decade ago, TerraWind focuses on developing and constructing onshore wind parks in Japan and across the Asia-Pacific region. The platform currently has 30 MW of late-stage development assets in Japan and a pipeline of over 300 MW in the Asia-Pacific region.
“As the need for renewable and reliable energy in Asia continues to grow, we have seen energy transition efforts accelerate across the region. TerraWind will seek to address that growing demand through the strategic expansion of Shizen Energy's onshore wind portfolio,” said Ryan Chua, senior managing director at Stonepeak.
Oliver Senter, Executive Officer at Shizen Energy responsible for Investment and Strategy, stated that the deal with Stonepeak will enable TerraWind to execute “attractive projects” for corporate power off-takers in Asia. He emphasized that while Shizen will continue to strongly promote solar power generation, it will also address the need for additional technology solutions required by its customers to achieve their decarbonization goals.
