Stonepeak has completed an investment in TerraWind Renewables, an Asian onshore wind energy platform, in partnership with Shizen Energy.
As part of the transaction, Stonepeak has acquired an 80% interest in TerraWind, with Shizen Energy retaining the remaining 20% interest in the business.
TerraWind will focus on the development of onshore wind projects in Japan and across the Asia-Pacific region.
Shizen Energy, founded in 2011 and headquartered in Japan, focuses on the development, financing, and management of renewable energy power plants.
As of today, the onshore wind platform consists of 30MW of late-stage development assets in Japan and a pipeline of over 300MW across 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.
He added: “With a strong existing business, secured, long-term contracts, and a robust pipeline, we are confident in both TerraWind’s potential and fit as part of our global renewables strategy.
“We look forward to working with the Shizen Energy team – with whom we have a strong existing relationship through our existing portfolio company, Synera Renewable Energy – to bring these opportunities to bear and further the equitable distribution of renewable energy in the region.”
Oliver Senter, Executive Officer at Shizen Energy responsible for Investment & Strategy, said: “We are excited to close this new partnership for onshore wind with Stonepeak which builds on our existing relationship with Stonepeak’s portfolio company Synera Renewable Energy, a leading Taiwanese offshore wind developer, whom we have partnered with since 2021.
“Shizen’s core business since its foundation has been solar PV, which we will continue to promote strongly, however our customers require a variety of solutions to achieve their decarbonisation goals, including energy storage, energy management systems, EVs, and also wind power.
“By focusing on new onshore wind project development, we believe TerraWind will realise many attractive projects for our corporate PPA customers in Asia.”