Kaffee Energy taps JLL for Wayu Philippines equity raise
Fri, 14th Aug 2026 (Today)
Kaffee Energy has completed its acquisition of Wayu from Nala Renewables and appointed JLL to advise the company on an equity capital raise.
The deal makes Wayu a wholly owned subsidiary of Kaffee and moves the renewable energy platform into its next ownership phase with an exclusive focus on the Philippines.
Wayu invests in and develops commercial and industrial renewable energy projects, as well as utility-scale solar, wind and battery storage assets in the country. The business was launched in 2023 with a target of developing and operating more than 1,000 MW of renewable energy assets by 2030.
Its current portfolio includes 14 MW of operational commercial and industrial projects in the Philippines, 138 MW of utility-scale projects in late-stage development and a mid-term pipeline of more than 700 MW across solar, wind and battery energy storage system projects.
Philippines focus
The capital-raising mandate indicates that Wayu is seeking external equity to support the build-out of that pipeline under Kaffee's ownership. JLL will act as financial adviser on the fundraising.
The Philippines has become a key market for regional renewable energy developers, with demand across both commercial and utility-scale projects. Wayu is now concentrating exclusively on the country, giving it a single-market strategy as it expands from its existing operating base.
"We are very excited for Wayu's next chapter focussing on the Philippines, Southeast Asia's most active renewable market, which currently offers multiple offtake routes, attractive investment returns and consistent regulatory policy support. Wayu has a strong near and mid-term multi-technology pipeline and is excited to work with our local relationship partners to develop and operate a significant and diversified portfolio meeting both utility‐scale and commercial demand. We look forward to deepening out relationship with JLL and utilizing their expertise as we enter our next step of expansion," said Wassef Sawaf, Chief Executive Officer, Wayu Energy.
According to JLL, the acquisition follows a management buyout, and the firm is now advising on the next funding stage. JLL set up a dedicated energy and infrastructure advisory business in Asia Pacific in 2025.
Advisory role
JLL's role in the transaction places it in a growing regional market for renewable energy financing, where developers are seeking equity and debt to fund pipelines spanning generation and storage. Its Asia Pacific energy and infrastructure practice was created to advise on long-term capital needs linked to decarbonisation, digitalisation, economic growth and urbanisation.
That broader advisory push reflects increased overlap between renewable energy projects, adjacent infrastructure and commercial real estate strategies. Investors and developers are pursuing integrated real asset approaches as power, storage and property needs converge.
For Wayu, the immediate challenge will be converting its development pipeline into operating projects in a market where execution, land, grid access and contracting structures can shape returns. Its mix of commercial and industrial projects, utility-scale generation and battery storage gives it exposure to several parts of the Philippine electricity market.
The ownership change gives Kaffee full control over strategy and financing decisions at Wayu as it pursues its expansion plans. Full ownership may also simplify decision-making as the company seeks new equity investors for its next phase of growth.
"Following the completion of the management buy out (MBO), JLL is proud to partner with Wayu to raise strategically important capital to assist in the build out of their pipeline in the Philippines, the most active renewable energy market in Southeast Asia, and look forward to future collaboration opportunities," said James Cameron, Head of Energy & Infrastructure for Asia Pacific, JLL.