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Stylised image of a skyline in a Japanese city
With one of the world’s largest pools of institutional capital, Japan is perennially on managers’ radars. But now it is re-emerging as an attractive place to invest.
Renewables assets are among the most important now – and platform investments have proved to be a popular way to access them in Asia-Pacific.
As ‘free money’ dries up, higher interest rates are reshaping critical dynamics of the renewable energy market, Zak Bentley and Daniel Kemp find.
Offshore wind farm
The new Growth Markets Fund II is targeting renewables investments in high-growth middle-income markets, with PensionDanmark its first LP.
In addition to its 4GW pipeline, the platform could take advantage of future consolidation in Australia’s renewables sector.
Aerial rendering of Akaysha Energy's Waratah super battery
BlackRock’s Akaysha Energy secured the largest project under a pilot Capacity Investment Scheme in NSW, which will now be expanded across Australia to turbocharge investment.
The commitment will give Rest exposure to Quinbrook-managed assets including the Supernode green data centre and will help it meet its net-zero fund targets.
Macquarie will seed a new core renewable energy fund with some of its $2bn portfolio of assets, as exits slow.
The Australian fund manager is aiming for a more decarbonised and self-sufficient supply chain buying solar modules and batteries for its renewables projects that use the polysilicon manufactured at the Lansdown facility.
Portfolio manager Jiren Zhou sees more attractive returns compared to utility-scale assets, and a way to avoid grid congestion headaches.

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