Asia-Pacific real asset owner and manager ESR has signed an agreement to acquire 100% of Aquila Clean Energy APAC from Aquila Group.

The transaction’s financial terms were not disclosed.

Aquila Clean Energy APAC has a 1.6 GW portfolio of operational, under-construction, and advanced-stage development assets across Australia and New Zealand, South Korea, Japan, and Taiwan. The platform develops, owns, and operates solar, battery storage, and wind assets across the region.

ESR said the acquisition will expand its renewable energy capabilities and complement its logistics real estate and data center businesses. The company already has activities and a pipeline in solar and battery storage.

According to ESR, infrastructure and clean energy are becoming increasingly important to logistics real estate and data centers as electricity demand rises and industries seek to reduce carbon emissions. The acquisition is expected to provide ESR and its capital partners with additional investment opportunities in renewable energy assets.

Phil Pearce, President of ESR, said, “ESR has entered its next phase of growth with a clear focus on the sectors that underpin resilient supply chains, digital economies, and long-term economic development. As demand for logistics infrastructure, data centers, and power becomes increasingly interconnected, we see significant opportunities at the intersection of these sectors, with energy infrastructure becoming an increasingly compelling area for long-term capital deployment.”

The transaction is expected to close by the first quarter of 2027, subject to customary closing conditions and applicable approvals.

Following the completion of the transaction, ESR plans to work with Aquila Clean Energy APAC’s management team to expand the platform and pursue investment opportunities across its Asia-Pacific operations.

In 1H 2026, corporate M&A activity in the solar sector increased to 57 transactions, compared to 50 transactions in the first half of 2025, as per Mercom’s 1H and Q2 2026 Solar Funding and M&A Report.

In August, solar project developers Verdant Energy and Aura Power Developments have merged to form a solar and battery energy storage system (BESS) independent power producer (IPP) with approximately 1 GW of operating and under-construction assets in the UK.