HSBC Asset Management announced an investment by its Energy Transition Infrastructure (ETI) team Tokyo-based solar platform Tekoma Energy.
The investment marks the first for HSBC’s ETI platform, formed following the asset manager’s addition of an energy transition infrastructure-focused investment team to its alternatives unit in Asia, in a business transfer agreement with Hong Kong-based asset manager Green Transition Partners earlier this year. The team targets mid-market investments in areas including renewable energy generation, storage, grids, charging and hydrogen infrastructure, working alongside in-country developers.
Rowan te Kloot, Managing Principal, Energy Transition Infrastructure, Asia Pacific at HSBC AM, said:
“We are pleased to announce our investment in Tekoma Energy, marking a significant milestone for HSBC Asset Management’s Energy Transition Infrastructure team. This investment aligns well with our mid-market, value-added, direct equity strategy as well as our focus on developed Asian markets.”
Tekoma Energy is a renewable power developer specializing in PV solar across Northern Asia, operating in Japan since 2013, and Taiwan since 2018. The company has to date developed solar PV projects totaling over 700 MW of capacity. With the new investment, the company expects to invest in a significant pipeline of new projects, targeting a portfolio of 500 MW of solar PV projects in construction and operation by 2027.
Tekoma Energy CEO Gerard Terricabras said:
“We are very excited to join forces with HSBC Asset Management’s Energy Transition Infrastructure team in this strategic investment, which will allow us to increase our footprint and take our business plan to the next level of its growth potential. We are aligned in our common purpose in achieving a lower carbon future.”