SC Oscar acquires NZ solar developer Rānui Generation

The NZ firm has four projects in the development stage.

Singapore-based fund management firm SC Oscar, through its renewable energy infrastructure fund SC Renewable Energy Plus Fund 1, fully acquired New Zealand solar PV project developer Rānui Generation, including its four projects of around 157 megawatts-peak.

In a statement, SC Oscar said Rānui will now proceed with the construction of its first project in Northland, following the acquisitions, and will boost the development of three other greenfield solar projects set to start construction in 2025.

The portfolio has a total investment of around $135m.

“SC Oscar is actively considering a number of investments in the Asia Pacific renewable energy space, and we are particularly attracted to Rānui Generation due to the robust and competitive New Zealand electricity market and the excellent quality of the Rānui portfolio,” SC Oscar CEO & Co-Founder Conor McCoole.

“SC Oscar aims to create long-term value for investors by investing in the energy transition and we are delighted to support New Zealand in its commitment to a full transition to renewable energy,” he added.