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Nozomi Energy, a renewables platform focused on Japan and established by global sustainable infrastructure investor Actis, has acquired a significant portfolio of 12 operational solar projects in partnership with a Japanese co-investor. The projects have a combined capacity of 312MW. This acquisition boosts Nozomi Energy’s total portfolio, including operational and under-development assets, to approximately 750MW, with over 400 MW now operational. Launched in May 2023, the platform is progressing steadily toward its goal of achieving a 1.1GW portfolio of solar, onshore wind, and battery energy storage systems (BESS) by 2027.
The newly acquired solar plants range from 1 MW to over 60 MW in size. Nine of the projects are located in Japan’s central Kanto region, with the rest in Tohoku, Chubu, and Kyushu. All plants feature modern designs, began operations within the last two years, and most supply extra high-voltage power to the grid. These facilities operate under Feed-In-Tariff (FIT) contracts extending until at least 2040, ensuring stable and predictable cash flows for Nozomi Energy.
The platform will take over operations, maintenance, and asset management for the entire portfolio. This transaction demonstrates Nozomi Energy’s growing presence in Japan’s renewable energy market. In addition to expanding through acquisitions, the platform continues to develop greenfield solar, onshore wind, and BESS projects to meet its long-term targets.
Jose Antonio Millan Ruano, Chief Executive Officer of Nozomi Energy, said, “We are delighted to have secured a significant and strategic portfolio of high-quality operational solar assets. Such opportunities are scarce, and this acquisition takes us a big step closer to our 1.1GW target for 2027 – accelerating the rapid progress we have made in the 18 months since we launched. This transaction also aligns perfectly with our mission to make a meaningful contribution to Japan’s energy transition and its goal to reach net zero by 2050.”
Tareq Sirhan, Head of Energy for North Asia at Actis, stated:“It’s terrific to see Nozomi Energy’s growth trajectory ahead of schedule. One of the priorities in setting up Nozomi Energy was to put in place a high-quality deal-savvy team with a builder-operator mindset, ready to deploy capital and scale a business from scratch to help drive Japan’s energy transition. We take pride in what we believe to be our operational and value-creation expertise and are continuously on the look-out for further opportunities in the renewables space, in Japan and Asia more broadly.”
Jun Ohashi, Partner, Head of Actis Japan, further added, “This landmark transaction was achieved thanks to the hard work of the Nozomi Energy team but also its synergies with the Actis team. I am also very happy to see the teams bringing a Japanese co-investor into this transaction, structuring tailored solutions with mutually beneficial outcomes for Actis and Nozomi as well as the investor.”
Earlier this year, Nozomi Energy won two battery energy storage system (BESS) projects in Japan’s first-ever Long-term Decarbonisation Capacity Auction. Each project has an initial installed capacity of nearly 200MWh. These wins mark a significant milestone for Nozomi Energy, further solidifying its role in advancing Japan’s renewable energy infrastructure. The projects align with the platform’s broader strategy to expand its portfolio of solar, onshore wind, and BESS assets as it works toward its 1.1GW target by 2027. |
