Infratil Commits to Development of Renewables in Asia

Source: www.gulfoilandgas.com 9/10/2021, Location: Asia

Infratil Limited announced it is committing US$233m to establish Gurin Energy, a renewable energy development platform headquartered in Singapore which will focus on greenfield renewable projects across Asia.

Infratil CEO Jason Boyes said Asia presents a significant opportunity for Infratil to enter markets which are following a ‘transition to renewables’ roadmap laid out by Europe and North America a decade earlier.

“Decarbonisation is essential to combat climate change and renewables is one of the single largest investment opportunities in history with over US$4 trillion of investment in wind and solar assets forecast over the next decade.

“Markets across Asian are characterised by combined tailwinds of demand growth, a growing commitment at national levels to decarbonisation, an increasing desire to reduce dependency on imported fuels, and to build self-sufficiency and security of supply.

“The breadth of the Asian market allows us to diversify our risk profile, both from geographic and technology perspectives. Together with our US, European and New Zealand platforms, our investment in Gurin Energy demonstrates our global commitment to sustainability and climate change and extends our ability to manufacture quality renewable energy assets to Asia. As we have seen with Tilt Renewables and in North America and Europe, investor demand for these sorts of assets is only increasing.”

Mr Boyes said this is the 4th such platform Infratil has established to cover global growth of the sector. Infratil will own the business in partnership with the management team of Gurin Energy. Infratil has committed US$233m for development. US$100m of that commitment is in the form of support for letters of credit to be provided by 3rd party financiers for projects.

Gurin Energy will invest in the development of wind and solar PV energy projects and storage solutions across Asia, including Southeast Asia, North Asia and India. Gurin Energy is rapidly progressing an initial pipeline of projects of 500 MW at various stages of development in the Philippines, Vietnam, Thailand, Indonesia and Japan.

Gurin Energy will be led by Assaad W. Razzouk as CEO. Mr Razzouk is a recognized leader in the Asian renewable energy market where he has a long-standing track record. He brings a well-established team from Sindicatum Renewable Energy Company in Singapore, which he led for over a decade during which they developed, built, financed, operated and sold renewable energy projects across the region. Together with his senior leadership team, they have developed over 5GW of energy assets.

Mr Razzouk said he sees a large and accelerating opportunity in the region.

“We are delighted to partner with Infratil to do our part in powering Asia with clean energy. Infratil’s track record of establishing successful renewable energy platforms in Australia (Tilt Renewables), the United States (Longroad Energy) and Europe (Galileo Green Energy) is unmatched and provides immense synergies, best-practice know-how and learning opportunities for Gurin Energy, our people and our region.”

“Asia represents an exciting, growing renewable energy market, characterised by both a growing demand for electricity and increasing national commitments to decarbonisation” said Vimal Vallabh, Head of Energy at Morrison & Co, Infratil’s manager.

“Infratil’s establishment of Gurin Energy combines regional and local knowledge with Infratil’s sector expertise, capital and global reach. Infratil is teaming up with an experienced management team who are passionate about sustainability and have the expertise to build a significant renewables development platform.”

Mr Boyes said, “I am very pleased to welcome Assaad and his team to the Group. It was essential to partner with an experienced team, on the ground in the Asia region, as we have when extending into other new geographies. We found that with the Gurin Energy team. Their track record and experience in the sector and region sit nicely alongside our renewable development teams globally.”


Tanzania >>  8/5/2022 - Masdar, one of the world’s leading renewable energy companies, announced that it has signed an agreement with Tanzania Electric Supply Company Ltd. (T...
Israel >>  8/4/2022 - Eco Wave Power Global AB (publ) (WAVE) (“Eco Wave Power”) announced that it has officially commenced test runs of its newly installed wave energy pilo...

United States >>  8/3/2022 - BASF is committed to renewable energy solutions to power its sites across the United States and has entered into virtual power purchase agreements (VP...
United States >>  8/3/2022 - DNV, the independent energy expert and assurance provider, recently completed its latest survey of the North American contractors that partner with ut...

United States >>  8/2/2022 - Chobani, Kikkoman Foods Inc., Schreiber Foods, Hillebrand, and Polar Beverages are the latest food and beverage companies to join the Farm Powered Str...
Iraq >>  7/29/2022 - Iraqi Prime Minister Mustafa Kadimi lays the foundation stone for the 1,640 MW Anbar Combined Cycle Power Plant Project in Al-Furat Street, Anbar Prov...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.