Diode Ventures, a Black & Veatch company, has partnered with Alma Global Infrastructure to invest in energy and infrastructure projects through assets located primarily across OECD countries.
The initial plan for the partnership is to support a pipeline of $200 million in investments in renewable and clean energy projects.
“Sustainable energy and infrastructure remain some of the most sought-after investment classes for institutional investors offering strong returns and exceptional risk management opportunities,” said Brad Hardin, president of Diode Ventures. “We are pleased to not only leverage our strong relationship with our Taiwanese partner, New Green Power, who brought us this opportunity and provided local Japanese acquisition support, but also build a partnership with Alma Global Infrastructure to expand the portfolio of assets we can develop and bring online.”
The seed project for this partnership is a nearly 50-megawatt, shovel-ready utility-scale solar project that will provide green energy to the grid in southern Japan under a 20-year feed-in-tariff framework. The project marks the first in a series of planned investments in energy assets to be pursued by Diode and Alma Global Infrastructure.
“Institutional investors greatly value access to infrastructure investments that provide stable long-term cash flow from creditworthy counterparties for core essential services assets delivered on a programmatic basis,” said Frederic Brassard, president of Alma Global Infrastructure.
The partnership seeks to make investments in a diversified portfolio of long-term contracted or rate-regulated infrastructure assets with creditworthy entities. Diversification will be accomplished by investing in small, medium, and large-scale infrastructure projects.
Driven by continued growth in demand for renewable and other low-carbon forms of energy, Diode and Alma Global Infrastructure are also working to identify and develop a portfolio of assets in markets encouraging the transition to a low-carbon economy.
