As part of the transaction, ThomasLloyd is selling its stake in the gridconnected 22 MW first phase and substantially completed 23 MW second phase solar facility at San Carlos City, Negros Occidental, Philippines.
ThomasLloyd will retain ownership with its local partner, Bronzeoak Philippines Inc, of the proposed 32 MW solar facility at La Carlota and the 48 MW solar facility at Manapla also on Negros Occidental.
ThomasLloyd was advised by BPI Capital Inc. on the transaction. Further terms were not disclosed.
ThomasLloyd Group is a leading global investment and advisory firm, solely dedicated to the renewable energy sector in Asia. The company is based in London and Zurich, as well as 14 other locations in 8 different countries in North America, Europe and Asia.
PINAI is a 10 year, closed-end fund, dedicated to equity investments in Philippine infrastructure. The fund had its first and final close in July 2012, raising PHP 26 billion of commitments. The manager of the fund is Macquarie Infrastructure Management (Asia) Pty Limited Singapore Branch (MIMAL), a member of Macquarie Infrastructure and Real Assets (MIRA).