Renewables

The fund manager expects to commit at least $5 billion to assets in the region, its newly appointed head of renewable power in Asia-Pacific says.

The firm will invest 20% of the new vehicle outside Europe, strongly targeting the US, where it is exploring the possibility of raising a dedicated fund.

Wholesale energy retailer Flow Power will purchase 50MW of Sapphire’s 270MW capacity per year on a ‘10- to 12-year’ power-purchase agreement.

The mechanism will be debated at a meeting of state energy ministers this month, but emissions-reduction component will be absent.

The New York-based manager is launching Zarou through Blackstone Energy Partners, with Sameh Shenouda to head up the new company.

Founding members Infracapital, Helios and Aurium double down on the firm, as the latest investment takes BIG to $782m raised over the past three years.

The vehicle will deploy $15m-$40m per transaction.

The UK asset manager plans more “bespoke renewables portfolios” in partnership with institutional investors across the globe.

The Japanese asset management firm is initially investing $890,000 in the greenfield Mirai Renewable Energy Fund, targeting a final close by March 2019 on $267m.

The Australian state will sign contracts for six renewables projects that will see 928MW of electricity generated per year.