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
What's Affecting Oil Prices This Week? (Sept. 9, 2024)
2024-09-09 - Within the context of lower oil prices and disappointing economic data, members of OPEC+ have decided to delay the unwinding of voluntary cuts, which were expected at the end of September.
RBAC: Environmental Pressures Undercutting the Global Gas Network
2024-10-10 - RBAC founder and energy economist Robert Brooks worries that environmental goals and pressures have taken a front seat at the expense of affordable energy access to countries such as Africa.
New FERC Commissioner Calls Slow Permitting Process ‘Huge Problem’
2024-09-17 - FERC Commissioner David Rosner said the commission is aware that the permitting process is too slow overall at Gastech Houston 2024.
Texas is Sued Over Anti-ESG Law
2024-08-29 - A nonprofit organization is suing Texas over a 2021 law it says violates members’ free speech rights by banning Texas from investing in or contracting with businesses that, in the state's view, "boycott" the oil and gas industry.
RNG Producer OPAL Recovers 25% of Capex from Tax Credits Sale
2024-09-19 - OPAL Fuels, which sold tax credits for $11.1 million, indicated that its capex for the Emerald RNG facility is approximately $45 million, according TPH & Co.
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.