Global private markets investment manager, Partners Group has sold its stake in Japan Solar, a 610MW platform of Japanese solar power assets to an association led by Global Infrastructure Partners.
Partners Group invested alongside Equis Group to acquire its initial stake in Japan Solar in 2013, shortly after the Japanese government introduced a Feed-in Tariff to encourage investment in the renewable energy sector. Partners Group and others invested an initial USD 250 million to fund the construction of utility-scale power plants across the country. Japan Solar encompassed 27 secured projects totaling more than 610MW of capacity, of which over 200MW was operational and contracted into long-term power purchase agreements with Japanese electric utility companies.
Benjamin Haan, Partner, Head of Private Infrastructure Asia, Partners Group, comments: “Japan Solar was a timely project and we are delighted to have contributed to the build-out of Japan’s renewable energy production capacity. The successful sale of our stake in Japan Solar ahead of our original exit timeline provides an attractive return to our clients and endorses our strategy of platform-building in markets supported by transformative trends.”