March 6, 2023
Daiwa Energy & Infrastructure Co. Ltd.
Mizuho Bank, Ltd.
Mizuho Leasing Company, Limited
Investment in United Kingdom Onshore Wind Project
Daiwa Energy & Infrastructure Co. Ltd. (President: Morimasa Matsuda, “DEI”), Mizuho Bank, Ltd.
(President and CEO: Katsuhiko Kato, "Mizuho Bank") and Mizuho Leasing Company, Limited (Presidentand CEO: Shusaku Tsuhara, “Mizuho Leasing”), collectively called “the investors” announce today thatthe investors have made an investment (the "Investment") in a 50MW onshore wind project in Northern
Scotland managed by Capital Dynamics Limited (“Capital Dynamics”).
The Investment is one of the investors’ initiatives to pursue their efforts on sustainability action torealize a sustainable world. Through the Investment and continuing collaboration with Capital Dynamics,
the investors will contribute to the transition to net zero, enrich their insight in renewable energy, anddevelop as well as provide solutions that serve the sustainability transformation of their clients.
Capital Dynamics has been investing directly in clean energy in Europe since 2013 and currently owns
and operates over 30 projects with a combined capacity of over 1GW. Capital Dynamics’ Clean Energy
platform makes direct equity investments in carbon-reducing, renewable power generating projects fromlate-stage development through commercial operations. The Clean Energy team, including its dedicatedasset management affiliate, Netro Energy, is comprised of over 35 specialized professionals with global
capabilities, sector expertise and an extensive industry network.
Overview of the Project
Invested Asset

An onshore wind project in Northern Scotland, the United Kingdom.
50MW of installed capacity with 9 wind turbine generators in total.
Commercial operation scheduled to commence in late 2025.

Investment Manager

Capital Dynamics

Investors

DEI, Mizuho Bank, Mizuho Leasing
The Project

Edinburgh

LondonImage of existing wind project owned by Capital Dynamics

Location of the ProjectAbout DEI
DEI is a core strategic subsidiary of Daiwa Securities Group Ltd., for exploring further investment
opportunities in infrastructure assets, renewable energy and resources. Daiwa Securities Groupestablished the SDGs Promotion Committee in 2018, incorporating the perspective of SDGs into thefoundation of our management strategy, and has endeavored to provide products and services
contributing to the realization of a sustainable society. In May 2021, we formulated the management
vision "Vision 2030", aiming to realize the SDGs by creating a sustainable capital cycle with the core
concept of "From savings to SDGs". For more information, please visit: www.daiwa-ei.jp/en/
About Mizuho Bank
Mizuho Bank is a wholly-owned subsidiary of Mizuho Financial Group, Inc., one of the largest, fullservice financial institutions in the world, with approximately 60,000 employees in 35 countries/regions
outside of Japan, nearly 150 years of banking experience, and assets of almost USD 2 trillion. Mizuho
Bank has one of the largest customer bases in Japan, and a global network of financial and businesscenters. At Mizuho, we will draw on our expertise as a financial services group to proactively provide
financing support, including sustainable finance and environmental finance, as well as advice andsolutions to strengthen and shift businesses towards decarbonization. For more information, please
visit: www.mizuhogroup.com
About Mizuho Leasing
Mizuho Leasing leverages its expertise in equipment and properties, in-depth understanding ofcommercial distribution, and sophisticated financial knowledge to provide a wide range of financial andbusiness services. We place the field of environment and energy as one of the focus areas in the Sixth
Midterm Management Plan (FY2019 - FY2023), and has been strengthening investment initiatives inrenewable energy business and the energy saving solutions to customers. Through this business, wewill aim to realize a sustainable society, while the importance of solving climate change andresources/energy problems increases, by further contributing to realization of a carbon-neutral society.
For more information, please visit: www.mizuho-ls.co.jp/en/
About Capital Dynamics
Capital Dynamics is an independent global asset management firm focusing on private assets, including
private equity (primaries, secondaries and co-investments), private credit, and clean energy. Created in
1988, the Firm has extensive knowledge and experience developing solutions tailored to meet theexacting needs of a diverse and global client base of institutional and private wealth investors. As of Q3
2022, Capital Dynamics oversees more than USD 14 billion in assets under management andadvisement1, and employs approximately 160 professionals globally across 14 offices in Europe, theMiddle East, North America, and Asia. Capital Dynamics is a recognized industry leader in responsible
investing, receiving the highest marks from the PRI for its Investment & Stewardship Policy, andinvestment strategies. For more information, please visit: www.capdyn.com
1As of September 30, 2022. Assets Under Management are calculated based on the total commitments as of the final closing date
for all funds currently managed by Capital Dynamics, including amounts that have been distributed. Assets Under Advisementincludes assets for which Capital Dynamics provides services such as reporting, monitoring and risk management.