ThomasLloyd CTI Asia Holdings, a wholly-owned subsidiary of global investment banking and investment management group ThomasLloyd, has sold its rights to two solar projects on Negros Occidental in the Philippines with a combined capacity of 80MW.
ThomasLloyd sold its rights for the facilities of Negros Island Solar Power to local investment firm Philippine Investment Alliance for Infrastructure (PINAI). These included a 32MW solar facility at La Carlota, which is under construction, and a 48MW facility at Manapla. Financial details of the transaction were not disclosed.
The news follows the sale of San Carlos Solar Energy (SaCaSol) to PINAI in June 2015, which included a 45MW solar facility at San Carlos City, also on Negros Occidental.
All three projects, with 125MW of total installed capacity, are expected to receive Feed-in-tariff (FiTs), which would account for the equivalent of 25% of the FiTs quota within the Philippines.
Michael Sieg, chairman and chief executive of ThomasLloyd Group added, “We are proud as the first enabling investor to have addressed the government call for private investment in the sector. Our first and subsequent investments have helped secure the FiT regime and accelerate the expansion of renewable energy in the Philippines.”