SC Oscar Acquires Ranui Generation, Expands NZ Solar Portfolio

• SC Oscar acquires Ranui Generation for $135 million, advancing renewable energy projects in New Zealand. Exciting developments ahead in the Asia-Pacific market.

SC Oscar, a renewable energy-focused fund manager, has acquired New Zealand-based solar power developer Ranui Generation for approximately USD 135 million. Ranui Generation has a portfolio of four development-stage projects in the North Island with a total capacity of 157 MWp. The acquisition will allow Ranui to begin construction on its first project in Northland and advance development on the other three greenfield schemes.

The deal, which was cleared by New Zealand’s Overseas Investment Office in October 2023, is the first investment made under SC Oscar’s debut infrastructure fund, SC Renewable Energy Plus Fund 1. The fund aims to raise USD 300 million and had its second closing in March. SC Oscar CEO Conor McCoole stated that the firm is actively considering investments in the Asia-Pacific renewable energy space and was attracted to Ranui Generation due to the competitive New Zealand electricity market and the quality of Ranui's portfolio. SC Oscar was established in 2022 by Singaporean real estate investment company SC Capital Partners in partnership with Oscar Energy.

What factors attracted SC Oscar to acquire Ranui Generation in New Zealand?

• Competitive New Zealand electricity market
• Quality of Ranui Generation's portfolio
• Potential for growth and development in the Asia-Pacific renewable energy space
• SC Oscar's focus on renewable energy investments
• Opportunity to begin construction on first project in Northland and advance development on other greenfield schemes