Stonepeak and Shizen Energy team up for Asian onshore wind

Alternative investment firm Stonepeak and Japanese developer Shizen Energy have closed a deal to jointly invest in Asian onshore wind platform TerraWind Renewables which will focus on the development of wind projects on land in Japan and across the Asia-Pacific region.

As part of the transaction, Stonepeak has acquired 80% of TerraWind, while Shizen Energy will retain the remaining 20% stake.

“As the need for renewable and reliable energy in Asia continues to grow, we have seen energy transition efforts accelerate across the region,” said Ryan Chua, senior managing director at Stonepeak.

“TerraWind will seek to address that growing demand through the strategic expansion of Shizen Energy’s onshore wind portfolio.”

Stonepeak is expanding quickly in renewable energy.

Shizen’s onshore wind platform currently consists of 30MW of late-stage development assets in Japan and a pipeline of over 300MW across the Asia-Pacific region.

“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 decarbonization goals, including energy storage, energy management systems, EVs, and also wind power,” said Oliver Senter, executive officer at Shizen Energy responsible for investment and strategy.

“By focusing on new onshore wind project development, we believe TerraWind will realise many attractive projects for our corporate PPA customers in Asia.”