Investment manager Aquila Capital has formed a joint venture with TopInfra to develop solar photovoltaic (PV), wind power and battery energy storage systems projects in South Korea.

The partners said the venture would kick off with a pipeline including 430MW of solar PV and 1,000MW of wind power.

Alexander Lenz, CEO of Aquila Capital Asia Pacific, said: “Renewable energy capacity demands in South Korea are expected to double between now and 2050 – to meet this, significant institutional investment is required, and we look forward to exploring the co-development of additional asset classes as needs evolve.

“It is a pivotal time for sustainable energy and we are ready to help realise the full potential of this in South Korea – and across the region at large – as we focus on our mission to broaden our investments here.”

Tristan Jung, CEO of TopInfra, said his company developed and constructed its first solar project more than 15 years ago.

“Our experience in Korea, combined with Aquila Capital’s institutional track record, will position ADP as a key player for energy transition in Korea,” said Jung.

That alignment was a key success factor in any partnership, and environmental sustainability was a core value driver which both Topinfra and Aquila Capital “embraced wholeheartedly”, said Jung.

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