Japanese consortium to study floating vertical axis wind turbines
Sep 11, 2024 15:57 CESTUS infrastructure investor Stonepeak has acquired a controlling stake in Japanese Shizen Energy Inc’s onshore wind development platform TerraWind Renewables in a move that is seen to accelerate the business.
The transaction has given Stonepeak an 80% stake in the Japanese company, while Shizen will keep the remaining 20%, the US investor said on Monday.
Set up almost a decade ago, TerraWind is focused on the development and construction of onshore wind parks in Japan and across the Asia-Pacific region. The platform presently has 30 MW of late-stage development assets in Japan, in addition to an over 300-MW pipeline in the Asia-Pacific.
“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.
According to Oliver Senter, Executive Officer at Shizen Energy responsible for Investment and Strategy, the deal with Stonepeak will allow TerraWind to execute “attractive projects” for corporate power off-takers in Asia. He noted that Shizen will continue to strongly promote solar power generation, which is its core business, but will also address the need for more technology solutions needed by its customers to achieve their decarbonisation goals.
Japanese consortium to study floating vertical axis wind turbines
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