Actis Launches $500 Million Renewables Platform In Japan

Global investor in sustainable infrastructure – Actis – has launched a new $500 million renewables platform called Nozomi Energy which will be Japan-focused. Nozomi will target 1.1GW of onshore wind and solar power generation by 2027. The investment is made from fifth and latest energy infrastructure fund of Actis, which represents $6 billion of investable capital.

Actis has recruited a dedicated management team to run Nozomi and deliver its buy and build strategy. Actis has signed its first investment and seed asset for Nozomi, acquiring 100% of Hergo Japan Energy Corporation from Infrastrutture S.p.A., an internationally active renewable energy developer and IPP.

Hergo Japan Energy has a portfolio of operating and development stage solar and onshore wind projects totaling around 230MW, plus a significant pipeline of early-stage projects. Hergo Japan Energy’s CEO, Minoru Saito, will remain with the new platform, as Vice-Chairman and Head of Wind at Nozomi.

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The deployment of renewables technologies by Actis in Japan and North Asia will be a key enabler in the region’s energy transition, supporting a shift to a low-carbon economy and meeting Japan’s national climate targets. Nozomi is expected to focus on delivering onshore wind and solar energy generation to support Japan’s commitment to reduce greenhouse gas emissions by 46% from 2013 levels, by 2030.

Actis said that it will use its proprietary measurement framework, The Actis Impact Score, to define and measure positive outcomes at Nozomi. It will also use its Transition Tool to identify decarbonisation opportunities. There will also be a focus on creating new local employment and supporting community investment to ensure a strong positive social impact during the life of the investment.

Jun Ohashi, Head of Actis Japan, said, “Through this well-funded new platform, we want to create another industry leader in renewable power. It should have a positive impact both in terms of decarbonisation and by creating local jobs and supporting communities, while still making superior returns for our global investors.”

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Actis has invested in over 70 renewable energy projects to date, with approximately 12GW of renewable energy capacity globally.