Actis, a global private equity firm with a focus on emerging markets, has recently announced the launch of its new Japan-focused renewables platform, Nozomi Energy. The platform will target 1.1GW of onshore wind and solar power generation by 2027, with an investment of $500 million from Actis' fifth and latest energy infrastructure fund, which represents $6bn of investable capital.
Actis has signed its first investment and seed asset for Nozomi, acquiring 100% of Hergo Japan Energy Corporation from Infrastructure, an international renewable energy developer and IPP led by Pier Francesco Rimbotti. The acquisition is subject to customary closing conditions. Hergo Japan Energy has a portfolio of operating and development stage solar and onshore wind projects totalling around 230MW, plus a significant pipeline of early-stage projects.
See also: UK Shows Interest in Japan's Offshore Wind Power Development
Jose Antonio Millan Ruano, an experienced energy professional with around 20 years of renewables experience, has been appointed to lead the dedicated management team that will run Nozomi and deliver its buy and build strategy. “Through this well-funded new platform, we want to create another industry leader in renewable power,” said Jun Ohashi, Head of Actis Japan. “It should have a positive impact both in terms of decarbonisation and by creating local jobs and supporting communities, while still making superior returns for our global investors.”
Minoru Saito, CEO of Hergo Japan Energy, will remain with the new platform as Vice-Chairman and Head of Wind at Nozomi. “We are excited to be part of Actis' new platform and to contribute our expertise and portfolio to help meet Japan's renewable energy targets,” said Saito.
This launch comes after Actis announced in March 2022 its extension of its footprint in Asia with a new office in Japan and key senior hires, Jun Ohashi and Tareq Sirhan. Actis' move into Japan is driven by the country's challenging but critical emission reduction targets, and Nozomi will play an important role in enabling the country to achieve them.
See also: Japan's Largest Offshore Wind Farm Construction Begins, Boosting Renewable Energy Ambitions
As the world shifts towards renewable energy, the launch of Nozomi Energy represents Actis' commitment to invest in Japan's clean energy sector, creating sustainable solutions that will help the country reduce its carbon emissions while still generating superior returns for its investors.
