SC capital-backed renewable energy fund buys New Zealand solar company Rānui | News

Singaporean renewable energy investment firm SC Oscar has acquired New Zealand solar project developer Rānui Generation.

The acquisition, which is being made on behalf of SC Renewable Energy Plus Fund 1, backed by SC Capital Partners, will enable four development-stage solar projects in New Zealand with a total capacity of approximately 157 MWp.

The total investment value of the portfolio is approximately USD 135 million (EUR 126 million).

Founded in 2020, Rānui is also engaging other independent renewable energy developers to expand its portfolio to include solar and onshore wind assets.

The investment is the first of several that SC Oscar is actively considering as part of its commitment to direct investments in renewable energy and real energy transition assets in the Asia-Pacific region.

Conor McCoole, CEO and co-founder of SC Oscar, said: “We are particularly interested in Rānui Generation due to New Zealand’s robust and competitive electricity market and the excellent quality of Rānui’s portfolio.”

McCoole said SC Oscar’s aim was to create long-term value for investors through investments in the energy transition and he was pleased to support New Zealand in its commitment to a full transition to renewable energy.

SC Renewable Energy Plus Fund 1, which aims to raise $300 million, reached its second close in March of this year.

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