In recent years, a lot of focus has gone into finding alternative sources of energy in order to slow down the rate at which the climate is changing. To that end, companies and governments all over the world have spent billions of dollars on projects related to renewable and clean energy. However, a lot of work still needs to be done, and in that regard, it could be said that the whole thing has only just started in earnest. Many companies are still working on ways to collaborate in a range of projects that could further boost the clean energy reserves of the world. In a new development, Diode Ventures, which is a unit of the Black & Veatch company, entered into a partnership with Alma Global with a view to strategize on building energy and infrastructure projects.
The projects are only going to be built in the Organization for Economic Co-Operation and Development (OECD) countries, and the two companies aim to generate substantial risk-adjusted returns on the projects have been built. In the very first stage of their partnership, the two companies are going to commit $200 million towards the building of projects focussed on clean and renewable energy. Brad Hardin, the Diode Ventures President spoke about the partnership that the company entered into. He said, “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 first project that the two companies are going to work on is related to a 50 MW utility-scale solar project and is going to provide clean energy to a grid in Japan. It is a highly ambitious project and one that could propel the investment into a big-time pretty quickly if it succeeds. The Alma Global Infrastructure President Frederic Brassard stated, “Institutional investors greatly value access to infrastructure investments that provide stable long-term cash flow from creditworthy counterparties 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.” The partnership is an ambitious one and could have important implications for the clean energy sector.