Renewables developer Solariant Capital and energy investor Daiwa Energy & Infrastructure (DEI) are collaborating to develop a portfolio of US solar and energy storage projects.

The partnership will first focus on developing California-based Solariant’s existing portfolio, which comprises more than 1GWac of solar and 2.5GWh of battery energy storage systems across the US Southeast and Southwest. The companies will also look to acquire other development-stage projects.

DEI, which is part of Japanese financial service company Daiwa Securities Group, said it is committed to supporting Solariant’s development efforts with its financial resources. 

“With the current favourable environment for renewable energy in the U.S. driven by the recent administration’s aggressive climate goals and support from state and local governments, we believe this partnership is a great opportunity for DEI to expand our footprint into the US market,” said Morimasa Matsuda, CEO of DEI. 

Daiwa Securities previously set up a fund in 2018 to make investments in large-scale solar projects in Japan.

Solariant Capital managing director Daniel Kim said the partnership with DEI will help his company expand its operations into new markets.

This story first appeared on PV Tech.