Acquisition of Conergy Asia completed

Tennenbaum Capital Partners, LLC (TCP) and Goldman Sachs BDC, Inc. (GSBD) have formally acquired Conergy Asia and ME Pte. Ltd. and its subsidiaries from Kawa Solar Holdings, including certain funds and assets in the Philippines.

Headquartered in Singapore, Conergy specializes in the development, design, finance, build and long-term asset management of commercial, industrial and utility-scale solar power systems which has operations in Japan, Australia, Thailand, Philippines, Myanmar and Germany.

In the Philippines, Conergy and its local partners have added a total of 274 megawatts (MW) of clean electricity to the grid across 10 projects, maintaining its position as one of the leaders at the solar engineering, procurement and construction (EPC) services in the country.

Areas where its projects are located include Tarlac, Pampanga, Bulacan, Bataan, Bataan, Negros and Bacolod.

It also recently moved its local offices in the Philippines to a bigger space to house its regional remote operations center, where the company monitors the progress and performance of all solar plants under its management in Asia Pacific.

Alexander Lenz, chief executive officer of Conergy, said the acquisition brings tremendous value to the firm.

"Over the past few years, Conergy has built leading positions in the Asia Pacific market, creating a formidable and highly competitive organization with excellent growth prospects. TCP’s and GSBD’s extensive experience and access to capital will strengthen Conergy’s financial position, enhance our capabilities and allow us to pursue new business opportunities in the region and execute our plans for growth in Australia, the emerging markets of Southeast Asia and Japan,” Lenz further said.