Singapore’s Sovereign Wealth Fund Teams Up With Goldman on Japan Clean Energy

Written by Chisaki Watanabe. This article first appeared in Bloomberg Markets. 

Singapore’s sovereign wealth fund is teaming up with a company created by Goldman Sachs Group Inc. to make its first-ever investments in renewable-energy projects in Japan.

The fund, GIC Pte, will become a corporate partner in GS Renewable Holdings GK, the parent of Japan Renewable Energy Corp., the companies said in a statement Friday. Terms of the transaction weren’t disclosed.

JRE develops and operates solar, wind, biomass and other clean-energy projects in Japan. It runs 34 power plants with a combined capacity of about 210 megawatts, and has 170 megawatts of new projects under construction, according to the statement.

“We see GIC’s investment as a testament to the potential of the Japanese renewable-energy market and JRE’s growth strategy,” JRE Chief Executive Officer Kazuhiro Takeuchi said in the statement.

About BloombergNEF

BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.
Sign up for our free monthly newsletter →

Want to learn how we help our clients put it all together? Contact us