Solar downstream company Conergy Asia & ME Pte. Ltd. announced that certain funds managed by Tennenbaum Capital Partners, LLC (TCP) and Goldman Sachs BDC, Inc. (GSBD) have signed a definitive agreement to acquire the company from Kawa Solar Holdings. Details about the acquisition were not disclosed.
Conergy Asia, specializes in the development, design, finance, build and long-term asset management of commercial, industrial and utility-scale solar power systems, is headquartered in Singapore. According to the company, it has served as the EPC contractor and O&M service provider for approximately a half gigawatt of solar plants. Since its founding, Conergy has installed almost 2 gigawatts of capacity globally. The Company has operations in Japan, Australia, Thailand, the Philippines, Myanmar and Germany. According to Rajneesh Vig, Managing Partner of Tennenbaum Capital Partners, the acquisition is an opportunity »to participate in the Asia Pacific market – one of the most attractive solar markets in the world today.«
Headquartered in Los Angeles, USA, TCP has invested more than $18.5 billion in over 500 companies. GSBD was formed by the Goldman Sachs Group, Inc. to invest primarily in middle-market companies in the United States.
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