Infratil, a New Zealand infrastructure investment company, announced that it will invest US$233 million to build an Asian renewable energy development platform called Gurīn Energy. Gurīn Energy will be based in Singapore, focusing on new renewable energy projects in Asia.

The renewable energy developer will invest in greenfield wind and solar photovoltaic (PV) energy projects and storage solutions in the African continent including Southeast Asia, India and North Asia. Infratil said that Gurīn Energy has already advanced the initial pipeline of 500MW projects in different stages of development in the Philippines, Thailand, Vietnam, Japan and Indonesia.

The company’s chief executive Jason Boyes said that Asia provides an important opportunity to enter markets that follow the “transition to renewable energy” roadmap previously established by Europe and North America.

Boyce said: "The Asian market is characterized by the tailwind of demand growth, the increasing commitment to decarbonization at the national level, the increasing desire to reduce dependence on imported fuels, and the establishment of self-sufficiency and supply security. The breadth of the Asian market Allows us to diversify our risk profile from a geographical and technological perspective." "Together with our platforms in the United States, Europe and New Zealand, our investment in Gurīn Energy proves our global commitment to sustainable development and climate change, and will Our ability to manufacture high-quality renewable energy assets extends to Asia."

Gurīn Energy is the fourth renewable energy platform established by Infratil to cover the global growth of the industry. The New Zealand company will work with Gurīn Energy's management team to own Gurīn Energy. Infratil said that the US$100 million in its investment commitment is in the form of a letter of credit provided by third-party financiers for the project.

The new renewable energy development platform will be led by Assaad Razzouk, who will serve as CEO. Razzouk is said to have brought a mature team from Singapore Sindicatum Renewable Energy, which has developed more than 5GW of energy assets.

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The CEO of Gurīn Energy said: "We are very pleased to work with Infratil to make our own contribution to the use of clean energy to power Asia. Infratil is established in Australia (Tilt Renewables), the United States (Longroad Energy) and Europe (Galileo Green Energy). The record of a successful renewable energy platform is unparalleled and provides Gurīn Energy with huge synergies, best practice knowledge and learning opportunities, our people and our region.” In August, Infratil completed the previously announced Tilt Sale of 65.15% stake in Renewables.Editor/Baohongying