PATRIZIA and Mitsui have committed to invest up to AUD 70 million in a major solar and battery development programme in Australia through the APAC Sustainable Infrastructure Fund (A-SIF).
PATRIZIA, a leading partner for global real assets, and Mitsui, one of the largest trading and investment companies in the world, have committed to invest up to AUD 70 million in a major solar and battery development programme in Australia through the APAC Sustainable Infrastructure Fund (A-SIF). The deal marks the debut investment for A-SIF, which is a joint venture between PATRIZIA and Mitsui.
The investment comprises an equity interest in YES Group, a leading energy solutions provider, together with a commitment to fund the development of a portfolio of predominantly small-scale solar PV generation and battery energy storage solutions throughout regional Australia. The portfolio will have the potential to deliver over 150MW of capacity once fully operational. It is expected that a 150MW renewables portfolio will offset over 335,000 tonnes of CO2 each year (compared to coal fired energy) and provide sustainable, green power to approximately 65,000 households.
The strategic decision to focus on a portfolio of small-scale generation assets will ensure diversification across the distribution network, shorter and predictable construction times, less transmission losses, less regulatory risk and the advantage of being able to spread assets geographically to target sites with higher solar irradiance.
You can now read the full whitepaper at the link below