Foresight to Acquire NZ Clean Energy and Invest $360 Million

The Australian arm of London-based investment manager Foresight Group Holdings Ltd. will acquire New Zealand renewables developer NZ Clean Energy, with plans to invest A$500 million ($360 million) over the next twelve months.

Foresight Australia Funds Management Ltd.’s flagship renewables fund, which manages A$2 billion, will purchase NZCE and finance the company’s three late-stage hybrid solar and battery projects as they begin construction, according to a joint release from the two firms. The companies declined to disclose the value of the acquisition. NZCE has a pipeline of more than 2 gigawatts in development.

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