Monthly Report

Actis-backed Nozomi Energy and co-investor acquire 312MW operational FIT solar power plant portfolio

December 20, 2024
Solar
Nozomi Energy was launched by Actis in May 2023.

Nozomi Energy, a renewable asset developer and owner launched by Actis in May 2023, together with a Japanese co-investor acquired a portfolio 12 operational solar power plants totaling 312MW from an undisclosed asset owner, Nozomi Energy announced on December 20, 2024.

According to the company’s statement, all of the power plants in the portfolio are under the feed-in-tariff (FIT) scheme, which pays asset owners a fixed per kWh price, with contracts expiring in 2040 or later. Nine of the power plants are located in the Tokyo TSO area. The remaining three projects are in the Tohoku, Chubu, and Kyushu TSO area, respectively. The power plants’ capacity ranges from 1MW to over 60MW.

“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,” said Nozomi Energy’s Chief Executive Officer Jose Antonio Millan Ruano.

With the acquisition, Nozomi Energy’s portfolio now includes over 400MW of operational assets and approximately 750MW of projects overall including those under development. In addition to developing solar and onshore wind assets, Nozomi Energy is also developing BESS projects. It was awarded two 37MW BESS projects in the Kyushu TSO area in Japan’s first long-term decarbonization auction.

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