Diode Ventures, Alma Global Infrastructure are partnering to finance and develop energy projects
Diode Ventures, a Black & Veatch company, announced its partnership with Alma Global Infrastructure to execute on an investment strategy that focuses on energy and infrastructure projects that generate attractive risk-adjusted returns primarily through investments in assets located across Organisation for Economic Co-Operation and Development (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 MW shovel-ready utility-scale solar project (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 counter parties for core essential services assets delivered on a programmatic basis. This is what Alma Global Infrastructure is delivering to institutional investors in partnership with global infrastructure leaders such as Diode in the energy sector” said Frederic Brassard, President of Alma Global Infrastructure. “We are privileged to count on the support of world class mid-market institutional investors to support Diode’s energy project development activities across OECD countries.”
Bill Nguyen, Chief Financial Officer at Alma Global Infrastructure said, “We are very excited about our partnership with Diode and the array of unique investment opportunities that will be made available as a result. We are very fortunate to have had the opportunity to work with the Diode team and other key partners on this rare opportunity and we look forward to developing, investing in, and managing other similar projects in the future.”
The Partnership seeks to make investments in a diversified portfolio of long term contracted or rate regulated infrastructure assets with creditworthy entities. Diversification shall 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. Diode leverages the global experience and relationships of its parent company, Black & Veatch, to help identify and develop energy project investment opportunities across OECD countries.
Diode Ventures is a full-service, turnkey asset developer in the commercial, industrial and technology sectors. With our partners, we offer our clients financing, site selection, EPC, commissioning and O&M services for their energy, data centers or other specialized infrastructure assets. Diode Ventures is a wholly owned subsidiary of Black & Veatch with a global presence in over 100 countries.
Alma Global Infrastructure is an independent infrastructure investment manager who structures, establishes and manages private equity investment platforms to support leading infrastructure developers’ renewable energy, communication, transportation and social infrastructure project pipeline across OECD countries. Alma Global Infrastructure leverages its strategic partnership with Montrusco Bolton Investments Inc. (MBI). MBI is a privately-owned Canadian investment manager which serves institutional clients, both Canadian and foreign. Founded in 1946 and headquartered in Montreal with offices in Toronto and Calgary, MBI is a member of the Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company with equity investments in leading boutique investment management firms around the world. Visit http://www.montruscobolton.com/solution/infrastructure/ for more information.