TerraWind Renewables is a joint venture between US infrastructure investor Stonepeak and Japanese renewable energy company Shizen Energy. Stonepeak will own 80 percent of the new onshore wind energy platform, while Shizen Energy will own the remaining 20 percent. TerraWind Renewables intends to focus its efforts primarily on the Asia-Pacific region, including Japan.
Shizen Energy was founded in 2011 with the goal of developing, financing, and managing power plants that use renewable energy. Reportedly, with ten years of expertise, its wind power division is led by a management team that has successfully developed and built onshore wind assets. The onshore wind platform has 300 MW of pipeline projects in the Asia-Pacific region and 30 MW of late-stage development assets in Japan.
Earlier this month, Ørsted struck a deal with Stonepeak to sell off a part of its ownership in a portfolio of four US onshore wind farms with a total capacity of 957 MW. This is Ørsted’s second significant divestment of multiple assets in the US as part of its ongoing farm-down strategy. The transaction is valued at approximately $300 million.
