Aquila Capital, TopInfra form renewable energy JV in South Korea

Aquila Capital
Photo from Aquila Capital's website.

Aquila Capital, a sustainable investment management and asset development company based in Hamburg, Germany, and TopInfra, a South Korean renewable energy asset development company, announced the establishment of their joint venture, Aquila Development Partners.

The venture will employ a joint development team that will focus on the development and construction of solar PV, wind power, and BESS projects in South Korea.

The partnership joins TopInfra’s vast local experience in the renewable energy space with Aquila Capital’s international expertise in investing in, developing, building, and operating renewable energy assets.

This marks an important milestone for Aquila Capital since opening its regional hub for Asia Pacific in Singapore in 2020 and underscores its continued commitment to growing its business in the region.

The pipeline of the joint venture includes 430MW of solar PV and 1,000MW of wind power, which are at various stages of development. South Korea is currently the 4th largest power market in APAC and has committed to net-zero emissions by 2050.

“We are excited to team up with TopInfra and launch our renewable energy investments in South Korea, a key power market in Asia Pacific. We were attracted to TopInfra’s wealth of local experience and believe through combining our complementary capabilities, Aquila Development Partners is well positioned to build on what we have both achieved so far,” said Aquila Capital Asia Pacific CEO Alexander Lenz.

South Korea’s Renewable Energy Demand Set to Double

“The renewable energy capacity demands in South Korea are expected to double between now and 2050 – to meet this, significant institutional investment is required, and we look forward to exploring the co-development of additional asset classes as the needs evolve,” he added.

Aquila Capital is an investment and asset development company focused on generating and managing essential assets on behalf of its clients.

By investing in clean energy and sustainable infrastructure, Aquila Capital contributes to the global energy transition and strengthens the world’s infrastructure backbone. The company initiates, develops and manages these essential assets along the entire value chain and lifetime.

In Asia Pacific, Aquila’s fast-growing team of 30 professionals across four offices (Singapore, Taiwan, Japan, and New Zealand) focuses on developing and constructing solar PV, wind power, BESS and other sustainable assets across the region. – @BusinessNewsAsia.com