By Andrew Lee in London
Tuesday, October 22 2013
Updated: Tuesday, October 22 2013
The two partners said the JV – which they hope to formally launch by the end of the year – will at first focus on utility-scale solar projects, with an initial target of developing 300MW of capacity within three years.
Later Macquarie and Maeda plan to broaden its scope to encompass wind power development, as well as general infrastructure projects such as roads and airports.
The pair said they will use their respective expertise to cover the full project lifecycle through design, financing, EPC, operations and maintenance, and divestment. A special purpose company will be formed for each project.
A statement announcing the intention to form the JV said: “In addition to the introduction of the Feed-in Tariff system for renewable energy in July 2012, various new initiatives for infrastructure development in Japan, including post-earthquake redevelopment, Public Private Partnership projects related to the 2020 Tokyo Olympic Games and concessions, have been introduced.
“These initiatives have led to an anticipated increase in private investment in these sectors, and the development of an infrastructure market in Japan similar to those existing in other markets.”
Maeda – a long-established Japanese civil engineering group – has already entered the renewables sector through its role in the Yasuoka offshore wind project and the Goyozan solar plant.
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