KAWA Solar Holdings announced that it had struck an agreement with Tennenbaum Capital Partners, LLC (TCP) and Goldman Sachs BDC, Inc. (GSBD) for the acquisition of Singapore-based Conergy Asia & Me Pte. Ltd.
Financial details of the agreement were not disclosed.
Conergy Chief Executive Officer Alexander Lenz said on Thursday that the deal, sealed last August 1, brings tremendous value to their company, their employees, and their customers.
“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 added.
TCP Capital Partners Managing Partner Rajneesh Vig said the transaction provides both companies 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.”
Founded in 1998, Conergy is in the business of developing, designing, financing, building, and managing long-term assets of commercial, industrial and utility-scale solar power systems.
It has operations in Japan, Australia, Thailand, the Philippines, Myanmar and Germany. In the country alone, it has added a total of 274 MWp [megawatt-peak of clean electricity to the grid across 10 projects.