Actis, a global investor in sustainable infrastructure, has launched Nozomi Energy, a new renewable platform focused on Japan. With an investment of US$500 million, Nozomi aims to target 1.1 GW of onshore wind and solar power generation by 2027. The investment is being made from Actis’ fifth and final energy infrastructure fund, which represents $6 billion of investable capital.
Actis commits to the energy transition with Nozomi Energy
Nozomi Energy was established to support Japan’s commitment to reduce greenhouse gas emissions by 46% from 2013 levels by 2030. The platform will focus on onshore wind and solar power generation, with Actis’ proprietary measurement framework, The Actis Impact Scoreâ„¢, used to define and measure Nozomi’s positive outcomes. The platform will also use Actis’ transition tool to identify decarbonization opportunities.
Actis has signed its first investment and initial asset for Nozomi, acquiring 100% of Hergo Japan Energy Corporation from Infrastrutture S.p.A. Hergo Japan Energy has a portfolio of onshore solar and wind projects in operation and development totaling approximately 230 MW, as well as a significant pipeline of early-stage projects. Hergo Japan Energy CEO Minoru Saito will remain with the new platform as vice president and head of wind power at Nozomi.
Actis has recruited a dedicated management team to lead Nozomi and implement its buy and build strategy. The team will be led by Jose Antonio Millan Ruano, an experienced energy professional with approximately 20 years of experience in renewables (including more than 11 years in Japan), most recently president and CEO of Hinode Energy, and previously at Univergy Solar.
Nozomi Energy: $500 million investment to target 1.1 GW of onshore wind and solar power
The deployment of Actis’ renewable technologies in Japan and North Asia will be a key factor in the region’s energy transition, supporting the shift to a low-carbon economy and meeting Japan’s national climate targets. Nozomi Energy will also focus on creating local jobs and supporting community investments to ensure a strong positive social impact over the life of the investment.
Actis has invested in more than 70 renewable energy projects to date, with approximately 12 GW of renewable energy capacity worldwide. In March 2022, Actis announced that it had expanded its presence in Asia with a new office in Japan and key hires Jun Ohashi and Tareq Sirhan.
Jose Antonio Millan Ruano, CEO of Nozomi, said, “This is a fantastic opportunity to build and manage a large-scale renewable energy platform that can significantly advance Japan’s net-zero emission ambitions. We have recruited a highly talented team and made an exciting first investment with more to come.” Tareq Sirhan, head of energy for North Asia, added, “At Actis, we are more than financial investors. Around the world, we buy, build and operate renewable and sustainable energy projects to support the energy transition, and we intend to take this long-term approach in North Asia.”
In sum, Nozomi Energy was launched to support Japan’s transition to a low-carbon economy and reduce greenhouse gas emissions. With an investment of US$500 million, Nozomi aims to target 1.1 GW of onshore wind and solar power generation by 2027.
