Asia-Pacific

The I Squared-backed company will invest an additional $95m in the assets over the course of the 30-year concession it was awarded.

The firm plans to strengthen its presence in APAC with the appointment of Alexander Lenz as regional CEO, building on investment from Daiwa Energy & Infrastructure in 2019.

IFM has formed an internal taskforce to implement the new target, building on work it has already done in its Australian portfolio.

The deal is the second investment for BlackRock’s Global Renewable Power III following a commitment to Belgian renewable developer Windvision in September.

The first transaction comes in the form of a A$130m senior syndicated loan facility, with capital funded via a separate account.

The new platform, which builds on IFM and Trafigura’s existing Impala Terminals business, could deploy $2bn in renewable energy generation.

The firm will make mezzanine debt investments through separately managed accounts and may raise a dedicated Asia debt fund in future.

The portfolio comprises six projects developed by Macquarie’s renewable energy platform Acacia.

Climate change minister James Shaw says the annual reporting requirements will apply to all institutions with more than NZ$1bn in AUM.

Colony Capital, which has pivoted to digital infrastructure after its 2019 acquisition of Digital Bridge, has several deals in Asia-Pacific in its pipeline.