Emerging market specialist to lead regional wind development portfolio
Singapore, January 26, 2022 – Modern Energy Management (MEM), a specialist in developing, constructing and operating investment grade renewable energy projects in emerging markets, announced that it was engaged to provide wind and solar development services to JCM-Kairos Renewables, a joint venture between Canadian Independent Power Producer (IPP) JCM Power Corporation (JCM Power) and Singapore based Kairos Renewables. The agreement targets development of a 500MW regional pipeline over a two-year period.
“This is really a landmark deal for us,” said Aaron Daniels, Managing Director for Modern Energy Management. “Since our founding in 2013 we’ve worked hard to establish the Modern Energy brand as the premier development services provider in the region. In that time, we have originated more than 1.3GW of wind projects for our clients, and we’ve provided an additional 10GW of development, construction, and operations management services. This deal allows us to leverage our full capabilities in developing an investment grade, regional portfolio of projects. We’re delighted in JCM-Kairos’ trust and confidence in MEM to lead the progress of this regional pipeline.”
The contract includes full scope development services for a regional renewables pipeline to start of construction. The first projects are expected to start construction next year.
“JCM has years of experience working with Modern Energy on a number of projects in Latin America, Africa and South Asia,” continued Justin Woodward, Chief Development Officer for JCM Power. “We were eager to continue that relationship with Modern Energy in their home market of Southeast Asia as we expand our global footprint.”
The deal is a strong sign of investor confidence in continued growth in Southeast Asia despite setbacks related to COVID. Renewable energy in Southeast Asia is expected to grow 30GW over the next five years, requiring approximately $ 20 Billion of investment capital to build out, according to McKinsey Global.
About JCM Power
JCM Power is an 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: Home – kairos-renewables.com