New York-based investment firm Stonepeak has acquired a majority stake in TerraWind Renewables, joining Shizen Energy to develop onshore wind projects in the Asia-Pacific region.
Stonepeak will have an 80% interest in the onshore wind energy platform, with Japan-based Shizen retaining the remaining 20% interest in the company, according to a March 25 news release. Currently, the onshore wind platform has 30 megawatts (MW) of assets in late-stage development in Japan and a pipeline of more than 300 MW across the Asia-Pacific region.
Ryan Chua, senior managing director at Stonepeak, said the need for renewable energy in Asia is increasing as energy transition efforts accelerate.
“TerraWind will seek to address that growing demand through the strategic expansion of Shizen Energy’s onshore wind portfolio,” said Chua. “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.”
Recommended Reading
TotalEnergies, RWE Partner on German North Sea Wind Projects
2024-10-07 - TotalEnergies and RWE aim to commission two wind projects, N-9.1 and N-9.2, in 2031 and 2032.
Macquarie Buys Up to $1.73B Stake in D.E. Shaw Renewable Investments
2024-09-24 - Macquarie Asset Management is acquiring a minority stake in D.E. Shaw Renewable Investments in an equity investment of up to $1.73 billion.
BKV CEO: IPO Driven by AI Power Demand, Improving Natgas Macro
2024-09-27 - BKV Corp. IPO’d on Sept. 26, nearly two years after the Barnett Shale’s top gas producer first filed to go public.
Exxon Adds 270,000 Acres for Largest Carbon Storage Site in the US
2024-10-10 - Exxon Mobil has leased acreage on the Gulf Coast from the Texas General Land Office for carbon capture and storage.
Equinor Acquires Nearly 10% Stake in Ørsted for $2.5B
2024-10-07 - Equinor becomes the second largest stakeholder in Ørsted with its $2.5 billion acquisition of the Danish company’s shares.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.