Utility-scale wind and solar developer Kairos Renewables (Kairos) announced it has entered a joint venture partnership with a wholly owned subsidiary of JCM Power Corporation (JCM Power) to co-develop projects across Southeast Asia. Headquartered in Toronto, Canada, JCM Power is an independent power producer which specializes in renewable energy infrastructure in emerging markets.
The joint venture will fund the advancement of Kairos’ regional wind project pipeline, with the first projects expected to start construction next year and represents JCM’s entry into the Southeast Asian renewable energy market.
Justin Woodward, JCM’s Founding Partner and Chief Development Officer stated, “We believe that working with an experienced regional partner like Kairos provides the opportunity to scale our business in Southeast Asia. The initial portfolio of projects provides an attractive mix of greenfield and later-stage investment opportunities. We look forward to working with the Kairos team in building on that pipeline of opportunities.”
“We are very happy to partner with JCM Power in a joint venture”, explained Kairos Managing Director Ed Douglas. “Kairos has ambitious growth plans and our partnership with JCM expands on a strong relationship built over the past five years. Combining our forces provides both companies with the additional resources and experience required to achieve our targets in one of the world’s fastest growing renewable energy markets.”
The joint venture will span the emerging markets of Southeast Asia, with immediate emphasis on the Philippines and Vietnam. Strong growth over the past three years and a significant rise in government and public support for an acceleration in the adoption of renewable energy is providing investors with confidence in growth projections that see the region adding 30,000 MW of wind and solar capacity by 2025. Despite COVID-related disruptions, the region’s long-term demand for energy has not diminished, and the rebound of that growth is expected to be met with a significant proportion of renewable energy generation.
About JCM Power
JCM Power is an independent power producer (IPP) dedicated to accelerating social, economic, and environmental sustainability in growth markets through the development, construction and operation of renewable energy infrastructure. Our driving vision is to advance the clean energy age.
For more information on JCM, please visit: https://www.jcmpower.ca/
About Kairos Renewables
Kairos Renewables originates, develops and invests in utility-scale renewable energy projects alongside international investors. It’s co-development model provides an integrated investment management and technical project delivery solution via a team of 23 professionals operating from offices in Singapore and Bangkok with an active project footprint extending to Vietnam and Philippines.
For more information, please visit: https://kairos-renewables.com/