Nozomi Energy Expands Solar Portfolio with 312MW Acquisition
Deal News | Dec 20, 2024 | Actis LLP
Nozomi Energy, a Japan-focused renewables platform with an objective to increase renewable energy infrastructure, has marked a significant milestone by completing its largest acquisition to date - a portfolio of 12 operational solar projects totaling 312MW. This acquisition, alongside a Japanese co-investor, significantly boosts Nozomi Energy's portfolio, now amounting to around 750MW, aligning with its goal of reaching 1.1GW by 2027 for solar, onshore wind, and battery energy storage systems (BESS). Founded by Actis LLP in May 2023, Nozomi's recent expansion is strategically significant as nine of these projects are situated in Japan's central and economically vibrant Kanto region, augmenting the platform's market reach. Operating under lucrative Feed-In-Tariff contracts, these projects ensure stable cash flows until at least 2040. This acquisition not only solidifies Nozomi's standing in the Japan renewable space but also emphasizes its dual focus on inorganic growth via acquisition and organic expansion through ongoing development of greenfield projects.
Sectors
- Renewable Energy
- Sustainable Infrastructure Investments
- Power Generation
Geography
- Japan – The solar projects acquired by Nozomi Energy are located in Japan, particularly in its central regions like Kanto, Tohoku, Chubu, and Kyushu.
- Luxembourg – Mentioned as part of the article’s source location.
- Global – Actis LLP, the firm backing Nozomi Energy is a global infrastructure investor with international operations.
Industry
- Renewable Energy – This industry is relevant because the article discusses Nozomi Energy's acquisition of solar projects, expanding its renewable energy portfolio.
- Sustainable Infrastructure Investments – This sector encompasses the investments by Actis LLP in establishing and growing Nozomi Energy as a sustainable infrastructure platform.
- Power Generation – The article pertains to the power generation industry through the acquisition of solar power plants meant to enhance electricity production.
Financials
- 312MW – Total capacity of the newly acquired solar projects by Nozomi Energy.
- 750MW – Total cumulative portfolio capacity of Nozomi Energy post-acquisition.
- 1.1GW – Target capacity for Nozomi Energy's portfolio by 2027.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nozomi Energy | Target company | Company | A Japan-focused renewables platform established by Actis LLP, focusing on solar, wind, and battery storage. |
| Actis LLP | Private Equity Firm | Company | The global infrastructure investor that established Nozomi Energy. |
| Japanese Co-Investor | Co-investor | Company | An unnamed investor partner involved in the acquisition alongside Nozomi Energy. |