SC Oscar, a Singapore-based fund management company specializing in renewable energy investments, has announced the acquisition of 100 percent of New Zealand solar PV project developer Rānui Generation Ltd. through its renewable energy infrastructure fund, SC Renewable Energy Plus Fund 1.
The acquisition includes four development-stage solar PV power projects in New Zealand with total capacity of around 157 megawatts. Consent for the investment by the fund was granted by the overseas investment office in New Zealand in October 2023.
With support from the Fund, Rānui will immediately begin construction of its first project in Northland and accelerate development of three other greenfield solar projects, with construction scheduled to start in 2025. The total investment in the portfolio is approximately US$135 million. The investment is the first of several that SC Oscar plans as part of its commitment to invest directly in renewable energy and energy transition
