Aquila Capital forms South Korean JV
- Partnership with TopInfra to develop and create wind and solar projects in the country
Aquila Capital and also renewable energy asset development firm TopInfra have actually formed a JV to establish and also create solar, wind and BESS projects in South Korea.
Aquila Development Partners joins TopInfra's large local experience in the renewable resource area with Aquila Capital's worldwide competence in buying, creating, building, as well as operating renewable energy properties, both stated.
This marks a vital milestone for Aquila Capital since opening its regional hub for Asia Pacific in Singapore in 2020 and underscores its continued commitment to growing its business in the area.
The JV pipe includes 430MW of solar PV and 1000MW of wind power, which are at numerous phases of development.
South Korea is currently the 4th biggest power market in APAC and also has actually devoted to net-zero emissions by 2050.
Aquila Capital Asia Pacific chief executive Alexander Lenz said: "We are delighted to team up with TopInfra as well as launch our renewable energy investments in South Korea, a vital power market in Asia Pacific.
" We were drawn in to TopInfra's wide range of neighborhood experience and believe via integrating our complementary capabilities, Aquila Development Partners is well placed to build on what we have both attained until now.
" The renewable resource capacity needs in South Korea are anticipated to double in between now and 2050-- to fulfill this, substantial institutional financial investment is called for, and we expect discovering the co-development of added asset classes as the needs evolve.
" It is a pivotal time for sustainable power as well as we prepare to assist realise the complete capacity of this in South Korea and throughout the region at large, as we focus on our mission to broaden our financial investments right here."
TopInfra president Tristan Jung included: "This partnership with Aquila Capital is testimony to the continuous progress TopInfra remains to make given that we established as well as constructed our very first solar project over 15 years earlier.
" Our experience in Korea incorporated with Aquila Capital's institutional track record will place ADP as a principal for the power transition in Korea.
" Placement is a crucial success factor in any type of partnership as well as ecological sustainability is a core value motorist which we both embrace wholeheartedly."