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Nippon Renewable Energy Secures Further Funds for Japanese Solar Market

Source: Nippon Renewable Energy KK

- JPY 26.1 Billion Japan Solar Equity Raising -

Tokyo, Jan 27, 2014 - (ACN Newswire) - Nippon Renewable Energy KK (NRE) today announced the successful closing of a JPY 26.1 billion (US$250 million) equity raising into Japan Solar L.P. (Japan Solar), to fund Japanese solar generation facilities managed and operated by NRE.

NRE is positioned to be one of Japan's largest independent solar generation utilities, with experienced local engineering, design, development and project management staff located in Tokyo. Through its relationship with Japan Solar, NRE has sufficient capital to progress with projects on an all-equity basis if required.

NRE currently owns and is developing a pipeline of over 300MW of Japanese solar projects, which will be financed with Japan Solar. Four projects in Oita, Hyogo, Hiroshima and Aomori prefectures totalling 47.5MW have been contracted and will commence construction having completed financing and construction documentation. These projects are expected to be followed by a further 110MW of projects during 2014.

NRE develops each project based on the Ministry of Economy, Trade & Industry (METI) fixed-priced feed-in-tariff regime, under 20 year power purchase agreements.

NRE Director, Mr Shoichi Kaneda, said, "Each NRE solar project involves the support of local construction contractors and Japanese utilities, creating sustainable employment in Japanese rural areas and important local community development. We are proud to be supporting the future development of Japan in an environmentally responsible manner."

The capital raising was co-led by Equis Funds Group and Partners Group and involved the Equis Asia Fund and Equis co-investors Babson Capital, LGsuper and Qantas Superannuation.

David Russell, CEO and Partner at Equis Funds Group, noted "We are pleased to support one of Japan's most experienced independent solar utility teams. Being an early mover into Japanese renewable energy has resulted in a win-win-win relationship for Japanese communities, the Japanese government and investors."

Benjamin Haan, Managing Director and Head of Private Infrastructure Asia-Pacific at Partners Group, commented "We are excited to invest in the rapidly developing Japanese renewable energy market and to support the NRE management in filling the large power generation gap in Japan. We are confident of additional investment opportunities in the near term that will offer our clients the opportunity to further contribute to sustainable energy development in Japan."

About Nippon Renewable Energy KK

Nippon Renewable Energy KK (NRE) is an independent Japanese solar utility business with its head office in Tokyo, Japan. NRE employs a strong local team of experienced development, design, project management engineers and investment professionals who have designed, financed, constructed and operated over 45 projects totalling 460MW across Japan and the rest of Asia. For further information, please visit: www.nipponenergy.asia

About Equis Funds Group

Equis Funds Group is one of Asia's largest independent energy and infrastructure private equity fund managers. Equis currently manages US$960 million with offices across Tokyo, Singapore, Hong Kong, Delhi, Manila, Bangalore and Chengdu. Equis employs 24 professionals with over 215 years of Asian energy and infrastructure experience across 125 Asian energy and infrastructure transactions, previously raising, investing and managing over $2.5 billion of equity across 4 Asian energy and infrastructure funds. For further information, please visit: http://equisfg.com/

About Partners Group

Partners Group is a global private markets investment management firm with over EUR 30 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, Sao Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Singapore, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 700 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 6 billion and a major ownership by its partners and employees. For further information, please visit: www.partnersgroup.com

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Source: Nippon Renewable Energy KK

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