ESR agreed to acquire Aquila Clean Energy APAC, including its Japan business, from Aquila Group for an undisclosed sum, the companies announced on September 24, 2026.
According to the statement, Aquila Clean Energy APAC has a 1.6GW portfolio of operational, under-construction and advanced-development solar, battery storage and wind projects in Australia, New Zealand, South Korea, Japan, and Taiwan. The transaction is expected to close by Q1 2027. ESR said the acquisition will build on its energy-related activities and complement its logistics real estate and data center business.
Aquila Clean Energy APAC’s website shows that the company owned a single approximately 45MW under-development solar power plant in Hokkaido as of July 31, 2026. It also acquired a 7.9MW project in Chiba Prefecture in 2022 but later divested it.
The seller has operated in Japan since 2012 through its investment management arm Aquila Capital, which opened a Tokyo office in August 2017 and in which Daiwa Energy & Infrastructure acquired a 40% stake in 2019. The unit had invested in at least two projects, including a 38.4MW solar power plant in Tomakomai City, Hokkaido, which it sold to a local institutional investor in April 2017.
ESR is an Asia-Pacific-focused real asset owner and manager. In Japan, it has a portfolio of over 35 operational and under-development logistics facilities and is also active in data center development.
