Infratil creates Asian renewables platform with USD-233m commitment
Solar park in Thailand. Featured Image: topten22photo/Shutterstock.com
September 10 (Renewables Now) - New Zealand-based infrastructure investor Infratil Ltd (NZE:IFT) announced today it is committing USD 233 million (EUR 197m) to create its fourth renewable energy development platform -- Gurin Energy.
The new platform is based in Singapore and will focus on the development of wind, solar and energy storage projects across Asia, including in Southeast Asia, North Asia and India. Gurin Energy launches with an initial pipeline of 500 MW of projects at various stages of development in the Philippines, Vietnam, Thailand, Indonesia and Japan. It will be led by Lebanese-British clean energy entrepreneur Assaad W Razzouk as CEO.
Infratil will own Gurin Energy alongside the management team behind the new platform. Of the total USD-233-million commitment, about USD 100 million comes in the form of support for letters of credit to be provided by third-party financiers for projects.
Gurin Energy is the fourth renewable energy platform created by Infratil following Tilt Renewables in Australia, Longroad Energy in the US and Galileo Green Energy in Europe.