PHESI 16MW wind farm and 6MW/MWh storage power project
Project
Emerging Africa & Asia Infrastructure Fund (EAAIF) and Ninety One's Emerging Markets Transition Debt strategy are jointly investing $30 million in Verdant Energy to acquire Philippines Hybrid Energy Systems Inc (PHESI). This acquisition will enable Verdant to expand its renewable energy operations in the Philippines, leveraging Raslag's local expertise. The project involves a 16MW wind farm and 6MW/MWh storage project in Mindoro Island, aiming to enhance the island's power supply and connect it to the national grid. The investment aligns with the Philippines' renewable energy goals and supports the country's transition to clean energy.
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Counterparts (7)
Investor
Ninety One
company
Ninety One is an active, global investment manager with a strong focus on long-term investment returns, sustainability, and emerging markets. They offer distinctive capabilities in global equities, fixed income, credit, multi-asset, and alternatives, with a special perspective on opportunities in developing markets and the energy transition.
E
Emerging Africa & Asia Infrastructure Fund
company
Emerging Africa & Asia Infrastructure Fund invests in infrastructure projects across emerging markets in Africa and Asia. The fund focuses on sectors such as energy, transportation, and utilities.
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Deal Analysis
Emerging Africa & Asia Infrastructure Fund (EAAIF) and Ninety One are jointly investing $30 million in Verdant Energy to acquire Philippines Hybrid Energy Systems Inc (PHESI), a developer of a 16MW wind farm and 6MW/MWh storage project in Mindoro Island, Philippines. This acquisition enables Verdant to expand its renewable energy footprint in the Philippines, leveraging Raslag's local expertise to enhance the island's power supply and connect it to the national grid. The project is already operational, representing a de-risked investment opportunity in a rapidly growing market. Finergreen advised on the transaction, while Private Infrastructure Development Group is also involved.
The investment aligns with the Philippines' broader renewable energy goals and supports the country's transition to clean energy sources. The hybrid nature of the project, combining wind and battery storage, addresses intermittency issues associated with renewable energy generation, making it a more reliable power source. This deal demonstrates the increasing interest of international investors like EAAIF and Ninety One in the Philippines' renewable energy sector and the potential for further growth in this market.
- Joint $30 million investment by EAAIF and Ninety One into Verdant Energy.
- Acquisition of an operational 16MW wind farm and 6MW/MWh storage project in the Philippines.
- Leverages Raslag's local expertise for project development and grid connection.
- Supports the Philippines' renewable energy targets and enhances grid stability.
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