Stonepeak and Shizen Energy to Form Asian Onshore Wind Platform

Stonepeak, a leading alternative investment firm specialising in infrastructure and real assets, has completed an investment in TerraWind Renewables (TerraWind), an onshore wind energy platform, in partnership with Shizen Energy Inc. (Shizen Energy), a Japanese renewable energy company.

As part of the transaction, Stonepeak has acquired an 80% interest in TerraWind, with Shizen Energy retaining the remaining 20% interest in the business. TerraWind will focus on the development of onshore wind projects in Japan and across the Asia-Pacific region.

Shizen Energy, founded in 2011 and headquartered in Japan, focuses on the development, financing, and management of renewable energy power plants.

The Company’s wind power-focused business segment has operated for almost ten years under the stewardship of a highly experienced management team with a proven track record of developing and constructing onshore wind assets.

As of today, the onshore wind platform consists of 30MW of late-stage development assets in Japan and a pipeline of over 300MW across the Asia-Pacific region.

“As the need for renewable and reliable energy in Asia continues to grow, we have seen energy transition efforts accelerate across the region. TerraWind will seek to address that growing demand through the strategic expansion of Shizen Energy’s onshore wind portfolio,” said Ryan Chua, Senior Managing Director at Stonepeak.

“With a strong existing business, secured, long-term contracts, and a robust pipeline, we are confident in both TerraWind’s potential and fit as part of our global renewables strategy.”

“We are excited to close this new partnership for onshore wind with Stonepeak which builds on our existing relationship with Stonepeak’s portfolio company Synera Renewable Energy, a leading Taiwanese offshore wind developer, whom we have partnered with since 2021,” said said Oliver Senter, Executive Officer at Shizen Energy responsible for Investment & Strategy.

“Shizen’s core business since its foundation has been solar PV, which we will continue to promote strongly, however our customers require a variety of solutions to achieve their decarbonization goals, including energy storage, energy management systems, EVs, and also wind power. By focusing on new onshore wind project development, we believe TerraWind will realize many attractive projects for our corporate PPA customers in Asia,” added Senter.