PRINT THIS PAGE Arcapita to invest in Chinese wind farm project11/07/2008. Source: AltAssets. 
Bahrain-headquartered investment firm Arcapita Bank has formed a joint venture partnership with Colossus Holdings, a Singapore-based holding company of Indian Tanti group, to acquire Honiton Energy Holdings, a developer and operator of wind power generation facilities in China. Arcapita and Colossus plan to have invested at least $2bn into Honiton by 2012 to develop a 1,650 MW portfolio of wind farms in the Inner Mongolia region. This is Arcapita's first investment in China. Honiton already has 50 MW of installed wind power capacity, with a further 100 MW in development. The company has also secured agreements with authorities to develop wind farms in five areas, representing a total of 2,244 square kilometres, on which it plans to develop its total capacity to reach 1,650 MW by 2012.
The Tanti Group, together with the Tanti family, owns 66 per cent of wind turbine supplier Suzlon Energy.
Atif A Abdulmalik, Arcapita's CEO, said, 'We believe this is another high quality investment opportunity in Asia, where we have now done seven transactions, six of which have been completed within the last 12 months. The total transaction value of our Asian portfolio is more than $5bn.'
Asim Zafar, head of Arcapita's asset based business, added, 'With increasing energy demand, rising fossil fuel prices and growing need for clean and renewable energy, wind energy has developed further than the existing alternatives in its potential for scale and efficiency. Honiton has an excellent asset base, as well as a management team with good relationships in China at a regional and state level, which already has a track record of achievement.'
In January, Arcapita acquired the Bosque power generation facility in Laguna Park, Texas.
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