Renewables developer BayWa r.e. has received a major capital injection of €530 million (US$642.3 million) through the sale of a 49% stake in the outfit to Energy Infrastructure Partners (EIP).
The equity transfer comes weeks after Meralco launched a 2MW/2MWh battery electric storage system 50km north of Manila that will work to stabilise energy from a 3.8MW solar farm.
Indian solar developer Azure Power has had a hugely successful period of raising financing, but consultancy firm Bridge to India has said that the overall domestic PV sector is facing hard times in raising debt finance.
