Global assets investment firm PATRIZIA and Japanese trading firm Mitsui have committed to invest $70 million in South Australia’s YES Group to deliver a major solar and battery development program in Australia for APAC Sustainable Infrastructure Fund (A-SIF).
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The investment comprises the acquisition of an equity interest in YES Group together with a commitment to fund the development of a portfolio of predominantly sub-5MW solar PV generation and battery energy storage solutions throughout regional Australia.
The portfolio will have the potential to deliver over 150MW of capacity once fully operational.
YES Group, founded in Renmark South Australia over 15 years ago by Mark Yates, is a vertically integrated energy solutions provider, covering energy markets services and retailing, project origination and EPC, high voltage services, and asset management. YES Group has successfully installed over 1,700 rooftop solar systems (below 1MW), over 120 ground mount solar farms (below 5MW) and works on major infrastructure projects across the national electricity network.
“We are thrilled to expand our working relationship with PATRIZIA and welcome the injection of capital to YES Group to capture the growth potential for our company” YES Group CEO Mark Yates said.
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“The energy transition is creating enormous opportunity to expand our business, and to combine our energy expertise with PATRIZIA and Mitsui deep capital and corporate expertise will enable us to deliver on the potential.”