Fund managers Tennenbaum Capital Partners Llc and Goldman Sachs BDC Inc. acquired Conergy Asia & ME Pte. Ltd. and its subsidiaries from parent firm Kawa Solar Holdings.
Conergy said in a statement certain funds managed by TCP and GSBD, a business development company managed by Goldman Sachs Asset Management, signed a definitive agreement for the acquisition.
The entry of TCP and GSBD in the solar energy firm is seen to enhance Singapore-based Conergy’s financial capabilities, allowing it to further grow its business. The sale transaction closed on Aug. 1.
Conergy specializes in the development, design, finance, build and long-term asset management of commercial, industrial and utility-scale solar power systems.
Conergy has installed almost two gigawatts (2,000 megawatts) of capacity globally.The company has operations in Japan, Australia, Thailand, the Philippines, Myanmar and Germany. In the Philippines, Conergy, together with its local partners, added a total of 274 megawatts of clean electricity to the grid across 10 projects in Tarlac, Pampanga, Bulacan, Bataan, Bataan, Negros and Bacolod.