Stonepeak has acquired 80% stake in TerraWind Renewables onshore wind projects in Japan and the wider Asia Pacific (APAC) region. This move underscores Stonepeak’s strategic intent to capitalise on the escalating demand for sustainable energy solutions across Asia, stated the company in a media statement.
Stonepeak secured a majority interest in TerraWind Renewables, while Shizen Energy, a prominent renewable energy firm headquartered in Japan, retains a 20% stake in the venture. Ryan Chua, Senior Managing Director at Stonepeak, articulated the rationale behind the investment, emphasizing the pressing need for reliable and renewable energy sources in Asia. Chua highlighted TerraWind’s pivotal role in meeting this demand by bolstering Shizen Energy’s onshore wind portfolio.
“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,” said Ryan Chua, Senior Managing Director at Stonepeak.
“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,” Chua added.
TerraWind Renewables enters the partnership with a robust foundation, boasting 30 MW of assets in Japan nearing completion in late-stage development. Moreover, the platform holds a promising pipeline of over 300 MW across various APAC markets. This substantial portfolio, complemented by secured long-term contracts, positions TerraWind Renewables as a formidable player in Stonepeak’s global renewable energy strategy.
The acquisition aligns with broader trends in the energy transition landscape, where governments, corporations, and investors increasingly prioritize renewable energy investments to mitigate climate change and achieve sustainability goals. In Asia, particularly in countries like Japan, there is a growing recognition of the imperative to transition towards cleaner energy sources to reduce dependence on fossil fuels and combat environmental degradation.
Stonepeak’s investment in TerraWind Renewables signifies confidence in the potential of onshore wind projects to drive sustainable development in the region. By leveraging TerraWind’s expertise and expanding its project portfolio, Stonepeak aims to play a pivotal role in accelerating the energy transition in Asia.
The partnership unveils the transformative potential of private investment in advancing renewable energy solutions and fostering a more sustainable future for Asia and beyond.
