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), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
Sign up for our free weekly newsletter →

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