Partners Group invests in Thai wind energy project
Partners Group continues its foray into direct investment with an investment into Wind Energy, a Thai company that provides utility-scale wind farms. Other investors in the project are corporates including Chubu Electric Power Company, Ratchaburi Electric Generating and Demco.
The investment is being used to fund the construction of two wind farms in the Korat province of Thailand, which is said to be one of the best wind resources in the country. These farms will be the first in the region of utility scale.
The wind farms have power purchase agreements for small power producers from the Electricity Generating Authority of Thailand, along with incentives available for wind energy projects during the first 10 years of operation. Both farms are projected to begin commercial operations by the first quarter of 2013.
Michael Barben, partner and head of private infrastructure, said: "We are pleased with this investment, which offers long-term cash flow visibility to our clients. Thailand is characterized by a solid regulatory framework, ambitious renewable energy targets and attractive support systems."
Partners Group has been very active in its desire to gain more exposure to direct investment globally. The firm has been in Asia since 1999, during which time it has completed around 20 direct investments, the most recent being the acquisition of Navis Capital Partners' majority stake in Trimco International Holdings.
The Swiss alternative investment giant has made several key hires to bolster its direct investment prowess including Kelvin Yu from Sequoia Capital China and Arka Capital's Cyrus Driver, who will look for deals in China and India respectively .
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