- Actis has launched a new renewable energy investment vehicle in Japan called Nozomi Energy
- It is targeted to install 1.1 GW onshore wind and solar power in the country by 2027
- The new company will be led by former President and CEO of Hinode Energy, Jose Antonio Millan Ruano
UK headquartered global infrastructure investment company Actis has set up a new $500 million renewable energy company called Nozomi Energy in Japan and given it a target to install 1.1 GW onshore wind and solar power generation capacity in the country by 2027.
The investment comes from Actis’ 5th and latest energy infrastructure fund with $6 billion of investable capital.
Actis says it has acquired Hergo Japan Energy Corporation with its 230 MW solar and wind portfolio and a significant pipeline of early-stage projects as its 1st investment and seed asset for Nozomi, a Japanese word whose literal meaning is hope. It purchased Hergo from Infrastructure S.p.A. for an undisclosed amount.
While Hergo Japan’s CEO Minoru Saito has been absorbed in Nozomi as its vice-chairman and Head of Wind, the new Japanese venture will be led by Jose Antonio Millan Ruano. He was till recently the president and CEO of Hinode Energy and also worked with Univergy Solar previously.
“Actis’ deployment of renewables technologies in Japan and North Asia will be a key enabler in the region’s energy transition, supporting a shift to a low-carbon economy and meeting Japan’s national climate targets,” stated Actis.
This investment in Japan follows Actis acquiring 50% stake in Levanta Renewables in 2022 in another significant Asian market of Vietnam (see Actis Takes Majority Stake In Vietnamese RE Firm).