Equis eyes $1bn renewables investments in Taiwan

The infrastructure private equity fund manager promotes Sung Woo Yang to partner based on the island amid continued expansion.

Singapore-based Equis Energy is looking to invest more than $1 billion in Taiwan’s renewable energy space, following the commission of a 5MW solar plant at the end of 2017 – which will be the largest ground-mounted facility on the island.

The renewable energy IPP, which is being sold by infrastructure private equity manager Equis Group to a consortium led by Global Infrastructure Partners in a $5 billion deal, is one of the largest developers in Taiwan. It has a 122MW portfolio of solar assets under operation, construction and advanced development and a pipeline of utility-scale solar and wind projects with 571MW capacity in development over the next five years.

The 5MW Kouhu solar project was commissioned late last month, under a 20-year PPA with local utility Taiwan Power Company. Equis expects to commission another 15.8MW of ground-mounted solar facilities by end of this quarter.

The developer has positioned itself to tap potential opportunities emerging from the Taiwan government’s energy plan, with two offices on the island – in Taipei and Kouhu. Taiwan is committed to significantly increasing the installed capacity of renewable energy to 28GW by 2025, including 20GW of solar. Total installed renewable energy capacity in Taiwan stood at 4.7GW as of end of 2016, over 1.3GW of which came from solar.

“We expect to invest over $1 billion in Taiwanese renewable energy, and the commissioning of the Kouhu Project is an important milestone in the realisation of our development strategy,” said David Russell, chairman of Equis.

“Our technical capabilities, track record and economies of scale will assist in dramatically reshaping the Taiwanese renewable energy market and quickly advance employment opportunities and economic growth in local communities,” he added.

Equis Group also kick-started this year by promoting a Taiwan-based director, Sung Woo Yang, to partner. Since joining Equis in 2011, Yang has overseen the firm’s expansion and development in Thailand and Taiwan. Prior to Equis, Yang was with Macquarie Group based in Abu Dhabi and Seoul.

Equis Energy operates from 15 Asian offices and develops renewable energy projects across the Asia-Pacific region, with a current portfolio of 4.9GW and another 6.2GW under development.