Infratil is committing US$233m (€197m) to establish Gurīn Energy, a renewable energy development platform to develop projects across Asia.
Singapore-headquartered Gurīn Energy will invest in the development of wind and solar photovoltaic energy projects and storage solutions in Southeast Asia, North Asia and India.
It is already “rapidly progressing” an initial pipeline of projects of 500MW at various stages of development in the Philippines, Vietnam, Thailand, Indonesia and Japan, said Infratil.
Infratil, managed by Morrison & Co, will own the business in partnership with the management team of Gurīn Energy.
Infratil CEO, Jason Boyes, said Asia presented a significant opportunity for Infratil, with the region following a ‘transition to renewables’ roadmap laid out by Europe and North America a decade earlier.
Gurin Energy is the fourth renewable energy platform established by Infratil to cover global growth of the sector. Infratil runs Tilt Renewables in Australasia, Longroad Energy in the US and Galileo Green Energy in Europe.
Boyes said the breadth of the Asian market allowed Infratil to diversify its risk profile, both from a geographic and a technology perspective.
“Our investment in Gurīn Energy demonstrates our global commitment to sustainability and climate change, and extends our ability to manufacture quality renewable energy assets to Asia,” Boyes said.
Gurin Energy’s pan-Asian operation will come under Assaad W Razzouk, who brings with him his team at Sindicatum Renewable Energy Company in Singapore.
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