Equis targets $500m in Indonesia renewables projects

The agreement represents the firm's first wind farm investment in the country and the third utility-scale wind installation project for local partner Persero, a state-owned company. The planned 60-megawatt operation will be equipped by Danish contractor Vestas Wind Systems and is scheduled to be operational by 2018.

The project is slated to be extended by several additional Equis-backed developments in the country over the next two years. This effort will capitalize on a government plan to add 35,000 megawatts of capacity by 2019, with 29% coming from renewable sources.

"Indonesia is set for a period of rapid, sustained growth in energy demand, and the Indonesian government has set ambitious targets for renewable energy to satisfy a large share of this demand," Equis CEO David Russell said in a statement. "Equis is committed to leveraging our experience and expertise in Indonesia to support these government initiatives and local community development."

Equis targets Asian energy and infrastructure projects with a focus on first-mover opportunities. It is investing from its second fund, which it closed last year at $1 billion along with raising a $300 million fund for follow-on investments to its first fund and a $400 million vehicle for two existing platform investments.

Recent activity by the firm includes the launch of a Philippines-based solar project touted as the largest in Southeast Asia. This followed a $250 million investment alongside Partners Group in a Japanese solar platform that aims to exploit a local pivot away from nuclear power.

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• Topics
• Southeast Asia
• Industrials
• Infrastructure
• Cleantech
• Indonesia
• energy
• Equis Funds Group
• Growth capital