Tennenbaum Capital Partners (TCP) and Goldman Sachs BDC (GSBD) have purchased Singapore-based solarpower firm Conergy Asia & ME and its subsidiaries from Kawa Solar Holdings.
Conergy CEO Alexander Lenz said: “This transaction brings tremendous value to our business, our employees, and our customers.
“Over the past few years, Conergy has built leading positions in the Asia Pacific market, creating a formidable and highly competitive organisation 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, as well as execute our plans for growth in Australia, the emerging markets of Southeast Asia, and Japan.”
With operations in Japan, Australia, Thailand, the Philippines, Myanmar, and Germany, Conergy is mainly involved in development, design, financing, and long-term asset management. The company has installed almost 2GW of capacity worldwide.
Tennenbaum Capital Partners managing partner Rajneesh Vig said: “This acquisition offers us and GSBD a unique opportunity to work closely with one of the industry’s most experienced solar firms and to participate in the Asia Pacific market, one of the most attractive solar markets in the world today.”