Apple commits US$300mn to renewable energy projects in China

Business Chief Magazine | September 29, 2019

Apple has announced its investment in green energy businesses and initiatives across China with a view to producing 4GW of green energy globally. Apple launched the China Clean Energy Fund in 2018, and further funding from the Silicon Valley company (along with ten other local suppliers) is set to expand the initiative. The fund is intended to give smaller local companies the financial backing to become more competitive in the green energy sector. Apple has committed to investing US$300mn in renewables by 2022 as part of its goal to reach net zero emissions by 2025. The funding is intended to produce 1GW within China, and will allow Apple to further supply their manufacturing plants with green energy. This is off the back of Apple completing the first of three projects across China in Concord Jing Tang and Concord Shen Zhang Tang which have a capacity of 48MW each, plus a third 38MW site.

Spotlight

Taylor Hopkinson Associates are an award-winning recruitment consultancy providing market-leading, professional search and selection and recruitment services to the international renewable and clean energy infrastructure markets at mid to senior management level.

Spotlight

Taylor Hopkinson Associates are an award-winning recruitment consultancy providing market-leading, professional search and selection and recruitment services to the international renewable and clean energy infrastructure markets at mid to senior management level.

Related News

Region's Largest Wind Project Commences Development in Vermilion County

Prnewswire | September 18, 2020

A 255-megawatt (MW), 15,000-acre wind project, Vermilion Wind, projected to be the largest in East Central Illinois, has commenced its development phase in Vermilion County with several key milestones in place. The wind development project is spearheaded by national renewable energy leader, Tri Global Energy, which develops and owns wind, solar and energy storage projects in Illinois, Indiana, Texas, Nebraska and Virginia. Tri Global Energy (TGE) has long been the largest developer of wind power in Texas, the state which leads the U.S. in production of wind energy. However, Illinois ranks sixth in the country for wind power production, and TGE's founder and chairman, John Billingsley, feels the state is poised to reap even more benefits through harnessing its assets for the development of wind energy.

Read More

ENERGY

Diode Ventures Launches Large-Scale Renewable Energy, Data Infrastructure Partnership in South Korea

Diode Ventures | January 13, 2022

The Republic of Korea runs on several energy-intensive industries, but a lack of sufficient natural resources means that Asia's fourth-largest economy is forced to import nearly all its energy even as it works toward aggressive net-zero goals. To answer the country’s need for sustainable infrastructure, Diode Ventures (Diode), a wholly owned subsidiary of Black & Veatch, has entered into a joint venture agreement with Energy Innovation Partners (EIP), subject to regulatory approvals and other customary closing conditions, to develop, finance, build and operate renewable energy and data infrastructure projects in the Republic of Korea. The Republic of Korea imports nearly 96 percent of its energy, which presents a particularly tough challenge for a country that is working toward a 20-percent reduction in carbon emissions by 2030 and a net-zero economy by 2050. To get there, the country will need to significantly expand its renewable energy generation portfolio. Working together as The Green Korea Inc., the joint venture will offer the full life cycle of project development for solar, wind, battery energy storage, data centers and more, helping to advance the country’s sustainability initiatives. We believe the growing Korean market offers substantive opportunities to add value for our clients and support the evolution of greener, more sustainable energy infrastructure. The EIP team is a trusted partner for Diode, and we are excited to work with them under the banner of The Green Korea Inc. to perform development, engineering, procurement and construction services that will bring these critical projects to life.” Brad Hardin, president of Diode Ventures With its Green Growth National Strategy and Korean New Deal 2.0 – which invests 220 trillion won (USD$185 billion) across the economy, including billions in green infrastructure and renewable energy – the Republic of Korea is at the forefront of green economic growth planning. The Green Korea Inc. partnership is a direct answer to the country’s needs as it embarks on these large-scale projects to reduce carbon emissions and increase sustainability across its economy. “EIP is very confident in our ability to grow a sustainable and lasting infrastructure footprint in Korea in partnership with Diode,” said Heejun Park, president of EIP Asset Management. “This agreement marks an important milestone in our long-term relationship with Diode and Black & Veatch.” About Diode Ventures Diode Ventures is a developer of energy and data infrastructure, serving the commercial, industrial and technology sectors. With our partners, we offer our clients development services including site selection, capital assembly, project financing, EPC and O&M. Diode Ventures is a wholly owned subsidiary of Black & Veatch with a global presence in over 100 countries. About Energy Innovation Partners Energy Innovation Partners (EIP) is Korea’s No. 1 energy investment & MBA advisory firm focusing on E.G, green energy infrastructure, power generation and US Midstream. In 2021, the company expanded its business stream to Asset Management company to widen its business spectrum to perform not only the advisory services but also Private Equity Fund management and securities (debt & equity) trading. To date, EIP has successfully raised capital over $2.5 billion and assets under management of over $100 million.

Read More

ENERGY

Arevon Energy, Inc. Formed through Combination of Capital Dynamics' U.S. Clean Energy Infrastructure Team Members and Arevon Asset Management

Arevon Energy | August 17, 2021

Arevon Energy, Inc. ("Arevon"), a renewable energy company, has launched today through the combination of Capital Dynamics' U.S. Clean Energy Infrastructure ("CEI US") team and Arevon Asset Management, Capital Dynamics' former exclusive energy asset management affiliate. Arevon is 100% owned by an investor group comprised of APG, the California State Teachers' Retirement System ("CalSTRS"), and a wholly owned subsidiary of the Abu Dhabi Investment Authority ("ADIA"). Arevon will support a standalone clean energy platform of 4.5 GW of operating, under construction, and late-stage development solar and battery storage projects, as well as a 3.0 GW pipeline. The transaction is subject to regulatory approvals and is expected to close by early 2022. With significant industry experience among its more than 100 professionals, Arevon will offer customized clean energy solutions to utilities and corporations and plans to expand its platform of solar and battery storage projects through customer acquisition, M&A, and select development activities. "Launching this clean energy platform gives Arevon the flexibility to expand our capabilities and engage in new partnerships," said John Breckenridge, Arevon's Chief Executive Officer and former Head of Clean Energy Infrastructure at Capital Dynamics. "As the renewables industry matures, it is essential we bring both innovative offtake solutions and operational excellence to the market. Our seasoned operations team, combined with our access to capital, positions us to accomplish those goals and continue to grow the platform's portfolio of clean energy assets in North America." Khadem AlRemeithi, Executive Director of the Real Estate & Infrastructure Department at ADIA, said: "Renewable energy is an area of keen interest for ADIA and we have built a sizeable, global portfolio in the sector. By investing alongside proven partners in Arevon, we are supporting the creation and future growth of an innovative renewable energy platform." Steven Hason, Head of Americas Real Assets at APG said, "As a pension investor, we are continuously looking for attractive infrastructure investments that help us realize stable, sustainable, and long-term returns for our pension clients. This transaction represents an opportunity to continue our clean energy investments alongside our partners and play a significant role in the U.S. energy transition. We look forward to further collaborating with our partners who share our long-term investment goals." In addition to Breckenridge, Arevon's management team includes three Executive Vice Presidents: Justin Johnson, former head of Arevon Asset Management, as Chief Operating Officer, Brian Callaway as Chief Financial Officer, and Tommy Greer as Chief Commercial Officer. Callaway joins the company from AES, where he was Vice President of Growth Initiatives and previously served as Vice President of Structured Finance and M&A for sPower. Greer joins from EDP Renewables, where he was the Head of Origination for North America. "We're launching into this next chapter with a deeply experienced team that shares a passion for driving the clean energy transition," said Johnson. "Arevon brings together an unmatched mix of project finance, construction, development and operations experience, aided by customized analytical tools that give us an edge when it comes to optimizing asset performance." Arevon will continue to provide consulting and support services to other generation assets for Capital Dynamics, an independent global private asset management firm based in Switzerland. Ropes & Gray acted as legal counsel to the Investor Group. About Arevon Energy, Inc. Arevon Energy, Inc. is a leading renewable energy company with roots as one of the largest renewable asset managers in the United States. Arevon's financial prowess and industry expertise come together to improve the structure and performance of clean energy assets across North America. Headquartered in Scottsdale, AZ, and New York City, Arevon uses innovative approaches and leading-edge technology to provide commercial, financial, performance asset management, and construction services to nearly 10 GWac of renewable energy assets delivering clean energy to utilities and corporations. For more information, please visit: www.arevonenergy.com About ADIA Established in 1976, the Abu Dhabi Investment Authority is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation.

Read More