Asia-Pacific real asset manager ESR Group has agreed to acquire a 1.6GW clean energy platform from Aquila Group for an undisclosed amount.
Market sources said the acquisition of Aquila Clean Energy APAC was completed on “attractive terms, reflecting the quality and scale of the platform as well as its significant opportunities for future growth and value creation”.
For comparison, Gentari Renewables India acquired a platform of similar scale from Brookfield Asset Management last year for an estimated $85m-$95m (€75m €83.6m).
Aquila Clean Energy APAC has a portfolio of operational, construction and advanced development assets in Australia and New Zealand, South Korea, Japan and Taiwan.
Phil Pearce, president of ESR, said: “ESR has entered its next phase of growth with a clear focus on the sectors that underpin resilient supply chains, digital economies, and long-term economic development.
“As demand for logistics infrastructure, data centres, and power becomes increasingly interconnected, we see significant opportunities at the intersection of these sectors, with energy infrastructure becoming an increasingly compelling area for long-term capital deployment.”
Apurv Choudhary, group head of infrastructure, ESR, said: “Aquila Clean Energy APAC brings an experienced team and a high-quality and diversified renewables portfolio across key Asia-Pacific markets, which is strategically adjacent to ESR’s footprint. Leveraging ESR’s platform capabilities, we intend to significantly scale the Aquila Clean Energy platform while maintaining a strong focus on returns and execution discipline, creating an attractive investment opportunity for our capital partners.”
Roman Rosslenbroich, CEO and co-founder, Aquila Group, said: “I am very proud of what the Aquila Clean Energy APAC team has built: a clean energy platform spanning solar, wind and battery storage across the most attractive markets in Asia-Pacific.“
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