ThomasLloyd CTI Asia Holdings has announced the sale of San Carlos Solar Energy Inc, which holds 45 MW of solar power capacity, to the Philippine Investment Alliance for Infrastructure (PINAI).
PINAI, a 10 year closed-ended fund managed by Macquarie, will buy ThomasLloyd's entire stake in San Carlos Solar Energy.
The fund will acquire the grid-connected 22 MW first phase and substantially completed 23 MW second phase solar facility at San Carlos City, Negros Occidental, Philippines.
ThomasLloyd was advised by BPI Capital on the transaction. Further terms were not disclosed.
The company will retain ownership with its local partner, Bronzeoak Philippines Inc, of the proposed 32 MW solar facility at La Carlota and the 48 MW solar facility at Manapla also on Negros Occidental.
IPP Journal has recently reported on several solar deals globally: