Singapore’s sovereign wealth fund GIC has joined Goldman Sachs as a backer of developer Japan Renewable Energy (JRE).
The deal – GIC’s first in the Japanese renewables sector – reflects “the potential of Japanese renewable energy market and JRE’s growth strategy”, according to the developer’s CEO Kazuhiro Takeuchi.
Takeuchi said the developer and IPP will now “accelerate expansion of our business and to become the industry leader”.
