The company has since evolved into an infrastructure developer and, in 2020, Equis Development Pte Ltd (“Equis”) raised $1.25 billion from a wholly owned subsidiary of ADIA and Ontario Teachers’ Pension Plan (“OTPP”) to develop, construct and operate renewable energy projects in Asia-Pacific.
Equis covers every stage of a project’s lifecycle from origination and development, through to construction and operation. The team is focused on renewables including wind, solar, storage, bioenergy, and waste-to-energy primarily in Japan, Korea, and Australia.
ADIA’s Infrastructure Department invested into the company to build renewable energy exposure in these markets, given the growing demand for clean energy amidst rapidly decarbonizing power markets. This fits with its strategy to invest in the energy transition thematic, which requires significant capital to build low carbon, reliable, and scalable solutions to help meet net zero ambitions globally.
Since the ADIA subsidiary’s investment, Equis has grown its team and advanced development and construction of renewable projects across the three primary markets.
