ESR powers up green credentials
ESR has agreed to acquire Aquila Clean Energy APAC as the real estate group expands further into renewable energy alongside its logistics and data centre businesses.
The Asia-Pacific platform, which will be acquired from Hamburg-based Aquila Group, has about 1.6 gigawatts of solar, wind and battery storage projects across Australia, New Zealand, South Korea, Japan and Taiwan.
The portfolio spans operational, construction and advanced development assets.
The acquisition will give ESR an established renewables platform alongside its existing solar and battery storage pipeline.
Financial terms were not disclosed; however, a similar deal—between Gentari Renewables India and Brookfield Asset Management for a 1.6 GW clean energy portfolio—was worth $1.3-$1.4 billon (USD$850-$900m).
Power options for occupiers
ESR said the acquisition would broaden the investment opportunities it can offer investors as electricity demand from logistics facilities and data centres increases (continues below).
The transaction is expected to complete in the first quarter of 2027, subject to approvals and other closing conditions.
Following completion, ESR plans to retain the Aquila Clean Energy APAC management team and expand the platform across its Asia-Pacific network.
ESR president Phil Pearce said the group saw opportunities across logistics, data centres and energy infrastructure.
Aquila Group chief executive and co-founder Roman Rosslenbroich said the transaction followed the development of the clean energy platform across the Asia-Pacific region.
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