Infrastructure sector-focussed PE firm CapAsia exits Philippines' wind power project

Infrastructure sector-focussed PE firm CapAsia exits Philippines' wind power
project

Singapore-based private equity firm CapAsia has signed a sale and purchase
agreement to sell its entire interest in CapAsia ASEAN Wind Holdings
Cooperatief UA, owning the majority stake in wind power projects in the
Philippines, to Thailand's listed renewable energy firm BCPG Pcl.

The deal's value will not be exceeding $28.5 million, according to BCPG's
filing to the Stock Exchange of Thailand.

BCPG's president Bundit Sapianchai said that this investment is in line with
its strategy to expand its renewable energy business in terms of technology
and geography in order to increase corporate value and diversify risk.

The filing cited the holding company holds a 40-per-cent equity in PetroWind
Energy Inc, one of the major players in wind power business there.

PetroWind Energy currently owns an operating 36-MW wind power project and
another development project of 14-MW wind power plant, located in Nabas, the
Philippines.

Upon the acquisition's completion, the company's total generating capacity
will be more than 400 MW from its investments in green power business
worldwide.

Another Thai listed firm, Vintage Engineering, recently bought 435 million
shares in Philippine listed energy firm Basic Energy Corp, developing some
power plants in Japan, Myanmar, Indonesia and the Philippines.

Launched in 2012, the CapAsia Asean Infrastructure Fund III has focused on
the investment in the infrastructure sector in Southeast Asia. CapAsia is
majority owned by The Rohatyn Group and CIMB Group is a minority
shareholder. Currently, it manages around $300 million in assets across
three funds.

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Link to Original Article:
http://www.dealstreetasia.com/stories/thailand-bcpg-expands-wind-power-biz-p
hilippines-acquisition-68586/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com