Aquila looks to offload Asia-Pac platform
Aquila Clean Energy (ACE) is looking to divest its Asia-Pacific platform, including 680 MW of ready-to-build projects, across Australia, New Zealand, South Korea and Taiwan.
Hamburg, Germany-headquartered renewables developer ACE began sounding out potential investors with deal teasers last month, PeakLoad has learned.
The teaser notes that Aquila Clean Energy Asia Pacific (ACE APAC) is a “unique opportunity to buy out [a] ready-to-build platform below NAV and scale the business into [a] regional powerhouse.”
The platform, which was launched in 2020, includes a1.5 GW collection of 21 onshore wind, solar and BESS developments.
Som 550 MW of projects could be operational within 24-30 months and 680 MW by the end of 2028, according to the deal teaser.
ACE APAC is developing 641 MW of projects in Australia, 539 MW in New Zealand, 63 MW in Taiwan and 300 MW in South Korea.
It has previously developed and divested a solar project in Japan.
ACE is an affiliate of German fund manager Aquila Capital.
It was launched in 2006 and is primarily focused on Europe where it has more than 270 staff and is currently constructing 500 MW of projects.
Several years back, Aquila Capital hired Citi and UniCredit to advise on its strategic options for ACE, which at the time had a more than 18 GW pipeline of wind, solar and BESS projects.
Officials at ACE and ACE APAC declined comment.