April 8th, 2024
Daiwa Energy & Infrastructure Co. Ltd.

Daiwa Energy & Infrastructure invests in two
operational renewable assets in the US withInfraRed Capital Partners
Daiwa Energy & Infrastructure Co. Ltd. (President: Morimasa Matsuda, “DEI”) has made a
co-investment (the “Investment”) in two operating, utility-scale renewable energy projects(“Projects”) in the US, which is managed by InfraRed Capital Partners (“InfraRed”).
The Projects consist of a 182 MW onshore wind farm in Texas (“Brazos Wind”) and a 180
MWac solar farm in Ohio (“Madison Solar”). This is DEI’s first investment in an operating
renewable asset in the United States.
Daiwa Securities Group strives to strengthen our medium- to long-term corporate value andcreate a sustainable and prosperous society through SDGs and ESG initiatives by working
together with its stakeholders.

Project Overview

Invested
Asset

Brazos Wind

Madison Solar

Location

Texas, Borden/Scurry Counties

Ohio, Madison County

Capacity

182MW

180MWac, 234MWdc

ISOERCOT

PJM

COD

4Q 2023

1Q 2024

GP

InfraRed Capital Partners LimitedLPs

Daiwa Energy & Infrastructure, and two other overseas co-investors

Image of Project sites (Left: Brazos Wind、Right: Madison Solar)

Location of the Projects (Left: Brazos Wind、Right: Madison Solar)

About InfraRed Capital Partners
InfraRed Capital Partners is an international infrastructure asset manager, with more than160+ professionals operating worldwide from offices in London, Madrid, New York, Sydneyand Seoul. Over the past 25 years, InfraRed has established itself as a highly successful
developer and steward of infrastructure assets that play a vital role in supporting communities.
InfraRed manages US$14bn of equity capital1 for investors around the globe, in listed andprivate funds across both core and value-add strategies.
A long-term sustainability-led mindset is integral to how InfraRed operates as it aims toachieve lasting, positive impacts and deliver on its vision of Creating Better Futures. InfraRed
has been a signatory of the Principles of Responsible Investment since 2011 and has achieved
the highest possible PRI rating 2 for its infrastructure business for eight consecutive
assessments, having secured a 5-star rating for the 2023 period. It is also a member of the Net
Zero Asset Manager’s Initiative and is a TCFD supporter.

1$14bn equity under management (USD) – Uses 5-year average FX as at 30th September 2023 ofGBP/USD of 1.2944; EUR/USD 1.1291. EUM is USD 13.597m
2Principles for Responsible Investment (“PRI”) ratings are based on following a set of Principles, including

incorporating ESG issues into investment analysis, decision-making processes and ownership policies. Moreinformation is available at https://www.unpri.org/about-the-priInfraRed is part of SLC Management, the institutional alternatives and traditional asset
management business of Sun Life. InfraRed represents the infrastructure equity arm of SLC
Management, which also incorporates BGO, a global real estate investment managementadviser, and Crescent Capital, a global alternative credit investment asset manager.
https://www.ircp.com/(Reference) Daiwa Securities Group's Sustainability initiatives：
https://www.daiwa-grp.jp/english/sustainability/?cid=ad_eir_ensdgspress