I Squared Completes Sale of Largest Solar Platform in Taiwan to Marubeni

Apr 23, 2020 10:28 AM ET
  • I Squared Capital has actually finished the sale of Chenya Energy, the biggest solar system in Taiwan, to Japanese company Marubeni Corporation.
I Squared Completes Sale of Largest Solar Platform in Taiwan to Marubeni
Image: saurenergy.com

I Squared Capital, with its ISQ Global Infrastructure Fund I, has actually finished the sale of Chenya Energy to Marubeni Corporation. Chenya Energy is a devoted solar growth, building and also running system in Taiwan as well as was a wholly-owned subsidiary of Asia Cube Energy, a pan-Asian eco-friendly profile business established by I Squared Capital in 2017.

" In 3 years under I Squared Capital's stewardship, Chenya Energy expanded from 2.3 to 344.4 megawatts of solar capability throughout numerous modern technologies, consisting of floating, ground-mounted and also roof options. The business is presently developing the globe's biggest floating solar project and also has actually proliferated to come to be the biggest solar system in Taiwan," claimed Gautam Bhandari, Managing Partner at I Squared Capital. "This is I Squared Capital's 3rd system realisation in arising markets and also includes in our performance history of producing worth for our financiers via structure first-rate facilities development firms that are very valued by calculated customers. I Squared Capital stays energetic in searching for eye-catching chances worldwide."

ISQ Global Infrastructure Fund I profile has actually understood about USD 1.8 billion in equity worth from its systems alone. Various other system awareness consist of Kendall Green Energy (a cogeneration center in Cambridge, Massachusetts) to Veolia, Cube Hydro (among the biggest independent hydroelectric business in the U.S.) to Ontario Power Generation, Lincoln Clean Energy (a leading onshore wind developer in the U.S. with 800 megawatts) to Ørsted, as well as Amplus Solar (the leading service provider of roof planetary systems for the Indian business as well as commercial market with over 344 megawatts) to Petronas.

In February, we had actually initially reported that I Squared Capital, via its ISQ Global Infrastructure Fund I, had actually become part of an arrangement to unload its whole risk in Chenya Energy to the Japanese company.

In April 2019, the company had actually offered 100 percent risk in Amplus Energy Solutions Pte Ltd, a leading Singapore-based business with a profile of dispersed, renewable resource properties in Asia, to Petroliam Nasional Berhad (Petronas), Malaysia's completely incorporated oil and also gas significant.

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