New York-based investment firm Stonepeak has acquired a majority stake in TerraWind Renewables, joining Shizen Energy to develop onshore wind projects in the Asia-Pacific region.
Stonepeak will have an 80% interest in the onshore wind energy platform, with Japan-based Shizen retaining the remaining 20% interest in the company, according to a March 25 news release. Currently, the onshore wind platform has 30 megawatts (MW) of assets in late-stage development in Japan and a pipeline of more than 300 MW across the Asia-Pacific region.
Ryan Chua, senior managing director at Stonepeak, said the need for renewable energy in Asia is increasing as energy transition efforts accelerate.
“TerraWind will seek to address that growing demand through the strategic expansion of Shizen Energy’s onshore wind portfolio,” said Chua. “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.”
Recommended Reading
Marketed: Bendel Ventures 73 Well Package in Texas
2024-03-05 - Bendel Ventures LP has retained EnergyNet for the sale of a 73 well package in Iron and Reagan counties, Texas.
Marketed: EnCore Permian Holdings 17 Asset Packages
2024-03-05 - EnCore Permian Holdings LP has retained EnergyNet for the sale of 17 asset packages available on EnergyNet's platform.
CERAWeek: Exxon Mobil CEO Says Not Trying to Acquire Hess
2024-03-18 - CEO Darren Woods said Exxon Mobil is trying to secure preemption rights over Hess Corp.'s Guyana assets in its dispute with Chevron, not buy the company itself.
Oilfield Service Companies Dril-Quip, Innovex to Merge
2024-03-18 - Dril-Quip Inc. and Innovex Downhole Solutions Inc. will emerge as a new company, Innovex International, with expanded reach in global markets.
Talos Energy Sells CCS Business to TotalEnergies
2024-03-18 - TotalEnergies’ acquisition targets Talos Energy’s Bayou Bend project, and the French company plans to sell off the remainder of Talos’ carbon capture and sequestration portfolio in Texas and Louisiana.