PAG raises USD 550m for Asia-Pacific renewables fund
- PAG raises $550 million for renewable energy fund targeting Japan's solar market, backed by global investors including Mubadala Investment Company. CEO James Buford emphasizes shift to clean energy in Asia.
Asia-Pacific investment firm PAG has raised USD 550 million for its renewable energy fund, aimed at acquiring and operating renewable energy assets across Asia, with a focus on Japan. The fund has attracted backing from pension funds, sovereign wealth funds, and fund of funds investors in North America, Europe, and the Middle East. Abu Dhabi sovereign fund Mubadala Investment Company has also made a cornerstone investment in the PAG REN I renewable energy platform as part of its first investment in the Japanese clean energy market.
PAG REN I will primarily target opportunities in the solar power generation market in Japan, with the platform's portfolio being managed by PAG Renewables, which already has over 600 MW of assets in the country. The fund's president and CEO, James Buford, highlighted the investor confidence in transitioning from fossil fuels to clean energy sources in Asia, emphasizing the need and opportunity for domestically produced energy generation in the region.
What is the focus of PAG REN I's renewable energy fund in Asia-Pacific?
- The focus of PAG REN I's renewable energy fund in Asia-Pacific is on acquiring and operating renewable energy assets across the region, with a primary focus on Japan.
- The fund will primarily target opportunities in the solar power generation market in Japan.
- PAG Renewables, the platform managing the fund's portfolio, already has over 600 MW of assets in Japan.
- The fund has attracted backing from pension funds, sovereign wealth funds, and fund of funds investors in North America, Europe, and the Middle East.
- Abu Dhabi sovereign fund Mubadala Investment Company has made a cornerstone investment in the PAG REN I renewable energy platform as part of its first investment in the Japanese clean energy market.
- The fund's president and CEO, James Buford, highlighted the investor confidence in transitioning from fossil fuels to clean energy sources in Asia, emphasizing the need and opportunity for domestically produced energy generation in the region.
