Singapore sovereign wealth fund has made its first investment in Japan’s renewable energy infrastructure sector.
GIC is partnering with Japan Renewable Energy Corporation (JRE) in a deal GIC believes will generate stable and sustainable returns, but did not disclose any financial details.
Founded in 2012, JRE develops, constructs and operates renewable energy power plants.
The company, set up by Goldman Sachs, runs solar, wind and biomass energy power plants located across Japan.
Ang Eng Seng, CIO of infrastructure at GIC, said: “We look forward to supporting the company’s growth plan alongside our partner Goldman Sachs to generate stable and sustainable returns.”
Earlier this year, GIC invested alongside Macquarie in a renewable power company in The Philippines.