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ThomasLloyd sheds stake in 45 MW of Philippine PV

June 16 – The Philippine Investment Alliance for Infrastructure (PINAI) has completed the acquisition of domestic renewables firm San Carlos Solar Energy Inc (SaCaSol) from global investment banking firm ThomasLloyd Group Ltd.

Prior to the transaction, project developer SaCaSol was a joint venture (JV) between Bronzeoak Philippines Inc and ThomasLloyd.

ThomasLloyd CTI Asia Holdings Pte Ltd confirmed the sale in a press release on Tuesday. Under the terms of the deal, the firm has handed over its stake in the operational 22-MW first and 23 MW second phase of a photovoltaic (PV) complex, located in San Carlos city, Negros Occidental province.

ThomasLloyd and its its local partner Bronzeoak will remain the owners of two other solar assets in the same province — a planned 32-MW solar farm in the city of La Carlota and the 48-MW PV park in Manapla municipality.

BPI Capital Inc served as advisor on the transaction. Further details have not been disclosed.

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