(The Philippine Star) | Updated November 4, 2015 - 12:00am
MANILA, Philippines - An equity
investment fund managed by Macquarie Infrastructure Management (Asia) Pty
Limited has increased its solar power portfolio after buying into Bronzeoak
Philippines’ Negros project.
In a statement, Bronzeoak said
the Philippine Investment Alliance for Infrastructure (PINAI), managed by
Macquarie Infrastructure and Real Assets (MIRA), completed its second solar
plant investment with the acquisition of a majority stake in Negros Island
Solar Power (islaSol).
The terms of the transaction,
however, were not disclosed.
PINAI’s investors include the
Government Service Insurance System (GSIS), Asian Development Bank (ADB), APG
Asset Management (APG), and Macquarie.
The deal brings PINAI’s
Philippine solar assets to 125 megawatts (MW), adding 80 MW to its first 45 MW
acquisition of San Carlos Solar Energy (Sacasol) in September.
“PINAI’s acquisition of islaSol
represents the fund’s strong commitment to building the country’s clean energy
infrastructure. We are delighted to expand our partnership with the country’s
leading infrastructure fund, its investors, as well as with its manager, MIRA,
a global leader in infrastructure investment and asset management,” Bronzeoak
Philippines president Jose Maria P. Zabaleta said.
The 45-MW SaCaSol plant,
inaugurated in May 2014, was the first project to receive incentives under
the feed-in-tariff (FIT) scheme.
On the other hand, islaSol comprises of two
solar farms in Negros Occidental with 32 MW located in La Carlota and 48 MW in
Manapla
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