Nozomi Energy, a Japan-focused renewable energy company established by sustainable infrastructure investor Actis, announced the acquisition of a portfolio of 12 operational solar projects totaling 312 MW with a Japanese co-investor. The financial details of the transaction were not disclosed.
The acquired portfolio consists of entirely operational solar projects with capacities from 1 MW to over 60 MW. Nine of the 12 projects are based in Japan’s Kanto areas, with the remaining projects in Tohoku, Chubu, and Kyushu.
The projects began operations in the last two years and operate under feed-in-tariff contracts that extend until at least 2040. Nozomi Energy is responsible for the operations, maintenance, and asset management services of the projects.
With this acquisition, the company’s portfolio of operational and under-development assets has increased to approximately 750 MW, of which more than 400 MW is operational.
The company, launched in May 2023 by Actis, aims to achieve a portfolio of 1.1 GW solar, onshore wind, and battery energy storage systems by 2027.
Jun Ohashi, Partner, Head of Actis Japan, added, “This landmark transaction was achieved thanks to the hard work of the Nozomi Energy team but also its synergies with the Actis team. I am also very happy to see the teams bringing a Japanese co-investor into this transaction, structuring tailored solutions with mutually beneficial outcomes for Actis and Nozomi as well as the investor.”
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, 166 project acquisitions totaling 28.3 GW were transacted in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
Earlier this month, CleanCapital, an independent power producer focused on distributed clean energy, announced the acquisition of a solar portfolio comprising 40 projects with a total capacity of 22.7 MW from Kendall Sustainable Infrastructure, an asset management firm.
