Nozomi Energy, a renewables platform focused on Japan and established by global sustainable infrastructure investor Actis, has announced the acquisition of 12 operational solar projects in partnership with a Japanese co-investor according to a press release. The portfolio, totalling 312 MW, significantly bolsters Nozomi Energy's current asset base.

The transaction further increases the platform's total portfolio, including operational and under-development projects, to around 750 MW, with over 400 MW now operational. The company, launched in May 2023, aims to eventually achieve a 1.1-GW portfolio of solar, onshore wind, and battery energy storage systems by 2027.

The newly acquired projects, which range in size from 1 MW to over 60 MW, are spread across Japan with nine located in the central Kanto region near the capital Tokyo. Other are located in the Tohoku, Chubu, and Kyushu regions.

All began commercial operations within the last two years and are designed with modern infrastructure, including capabilities to supply extra high-voltage power to the grid.

Operating under feed-in-tariff (FIT) contracts valid until at least 2040, these solar power plants provide an average remaining contract life of over 17 years, ensuring stable and predictable cash flows for Nozomi Energy. The company will take over operations, maintenance, and asset management services for the acquired projects, further strengthening its presence in Japan’s renewable energy sector.