Singapore-based Seraya Partners has completed its first investment from Seraya Partners Fund II (Fund II) by acquiring a controlling interest in G&B Infratech, a South Korea-headquartered solar and wind renewable energy developer and operator (G&B).
Seraya Partners said in a statement on Friday that it is committing $250 million of equity capital to acquire existing operating assets and to fund pipeline development, with the objective of building G&B into a 1GW-scale leading renewable energy platform in Asia.
This investment is representative of Seraya’s mid-market, control-only platform strategy.
Seraya sourced this high-quality off-market investment via its proprietary and deep local network. It is differentiated and rare in several ways.
G&B owns and operates a diversified 200MW portfolio of utility scale solar and onshore wind assets under long-term, 20-year contracts.
The platform also holds exclusivity over a high-quality and proprietary 1GW development pipeline, providing a clear pathway for phased and disciplined growth over time.
It is noted that South Korea is a highly developed low-risk Organization for Economic Co-operation and Development (OECD) market where global infrastructure investors do not have meaningful exposure today.
South Korea’s 11th Basic Plan for Long-term Electricity Supply and Demand (BPLE), finalized in 2025, targets a 50 percent reduction in greenhouse gas emission by 2035 and net-zero carbon emissions by 2050.
Under this plan, solar and wind power generation capacity is expected to increase from 30GW in 2023 to 121.9GW by 2038.
G&B focuses on low-risk contracted solar and onshore wind projects, avoiding merchant exposure.
Its portfolio comprises contracted, and cash yielding assets alongside a large secured pipeline of attractive 20-year power purchase agreements (PPAs) with high-quality investment-grade counterparties.
“The management team has a strong track record of disciplined execution and proprietary deal sourcing. Leveraging Seraya’s energy transition expertise, G&B is well positioned to scale quickly and become a market leader in South Korea and beyond,” said James Chern, Managing Partner and Chief Investment Officer of Seraya Partners.
Meanwhile, Junwook Kim, Chief Executive Officer of G&B Infratech, said they are extremely pleased to secure a sophisticated investor like Seraya Partners who has deep Asia market and energy sector expertise.
“More importantly, they are entrepreneurs like us, who value strong operating capabilities and local partnerships,
“While many global funds were eager to partner with us, I believe Seraya has the strongest reputation and is best placed to support the next phase of our growth,” he added.