Annycent capitalizes on a market opportunity between developers selling small - to medium - sized, fully-operational projects and international asset owners looking to acquire larger portfolios.
Target acquisition projects are held by developers who need to sell in order to recycle capital into new projects. Target projects are usually ultimately owned by public sector investors who lack the mandate to hold assets over their lifetime or to acquire already operational assets. The target projects’ small to medium size (25-200 MW range) renders them out-of-scope for the traditional, larger asset buyers and long-term owners.
Annycent seeks to capitalize on this market opportunity by acquiring these assets at attractive market prices.
Annycent has invested in the regional developer Kairos Renewables originating, developing and investing in large-scale wind and solar power projects across South-East Asia.
Kairos expects to deliver 10 operating wind and solar assets with a combined capacity of 1.25GW by 2025.
Annycent completed the Series A transaction in October 2022.
The investment gives Annycent a priority right to participate in the Series B round to fund Kairos’ 50% share of the construction equity for the first phase of a wind project in the Philippines (45MW out of a total of 500MW).
Ecotech (78 MW),Vietnam
Kairos management team provided development, procurement, project and construction management services.