Stonepeak has acquired an 80% stake in TerraWind Renewables with Shizen Energy retaining the remaining 20% interest in the Asia-Pacific onshore wind energy platform.

Infrastructure fund manager Stonepeak said TerraWind will focus on the development of onshore wind projects in Japan and across Asia-Pacific.

Ryan Chua, senior managing director at Stonepeak, said: “As the need for renewable and reliable energy in Asia continues to grow, we have seen energy transition efforts accelerate across the region. TerraWind will seek to address that growing demand through the strategic expansion of Shizen Energy’s onshore wind portfolio.

“With a strong existing business, secured, long-term contracts and a robust pipeline, we are confident in both TerraWind’s potential and fit as part of our global renewables strategy.”

Oliver Senter, executive officer at Shizen Energy responsible for investment and strategy, said: “We are excited to close this new partnership for onshore wind with Stonepeak which builds on our existing relationship with Stonepeak’s portfolio company Synera Renewable Energy, a leading Taiwanese offshore wind developer, whom we have partnered with since 2021.

“Shizen’s core business since its foundation has been solar PV, which we will continue to promote strongly. However, our customers require a variety of solutions to achieve their decarbonisation goals, including energy storage, energy management systems, EVs, and also wind power. By focusing on new onshore wind project development, we believe TerraWind will realise many attractive projects for our corporate PPA customers in Asia.”

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